Iranian Rial Crashes to New Low Amid Ongoing Economic Strains

The Iranian rial has hit a record low in value against the US dollar, following a period of economic pressure on the country. The exchange rate is now around 2.20 million rials for one US dollar, up nearly 10% from last week's previous record.

This development comes after a series of military exchanges between Iran and the US in February, which added to the country's already strained economic situation. Iran has been facing double-digit inflation and negative growth, further exacerbating the currency's decline.