Iranian Rial Collapses Amid US Economic Sanctions

The Iranian rial has plummeted to new lows on the free market, with the US dollar reaching 205,500 tomans. This collapse follows the dollar breaking the 200,000 toman barrier last Sunday, just before the implementation of the 'economic exclusion' plan approved by the US to tighten the financial noose around Tehran.

The US Treasury Department has taken drastic steps in its first concrete action under the new campaign, barring branches of Bank Misr in the UAE from accessing the US financial system due to suspicions of their ties to Iranian financial networks. The department also imposed direct sanctions on the Dubai branch manager of the National Bank of Iran.

The measures are part of an effort to cut off foreign funding to the Iranian economy. Meanwhile, the British pound sterling is trading at 277,000 tomans and a gold 'Emami' coin costs 218 million tomans.