Iranian Rial Collapses to Record Low Amid US Sanctions
Iran's currency, the rial, has hit an all-time low of 2.44 million to the US dollar according to a graphic published by the US Treasury. The decline is attributed to Operation Economic Outcast, which was launched on August 24, 2026.
The graphic shows a steeply rising red line representing the rial's collapse against the dollar, with an upward dashed projection labeled '3 million here we come.' This suggests that the Treasury views further devaluation as inevitable and desirable under continued pressure from Operation Economic Outcast.
Bessent had previously described Iran's economy as in free-fall, its currency at a historic low, and the regime as panicked due to financial walls closing in. The latest graphic updates this assessment with specific numbers and trajectory, turning a general description of economic pressure into a precise financial forecast.
The Treasury Secretary has vowed to continue degrading Iran's ability to fund terrorism and develop a nuclear weapon through Operation Economic Outcast. This campaign has already inflicted significant damage on the Iranian economy, including sanctions against institutions in multiple countries and the grounding of all Iranian airlines worldwide.