Iranian Rial Crashes Against Dollar Reaching Historic Low

The Iranian rial has hit a new historic low against the US dollar on Iran's free foreign exchange market. According to data from the Information Network of the Tehran Gold and Currency Dealers Union, one US dollar is now equivalent to approximately 2.53 million rials.

This development highlights the significant difference between the official exchange rate maintained by the government and the actual market rate. The government's artificially controlled rate is far removed from the current market value, indicating a substantial discrepancy in the value of the Iranian currency.