Iranian Rial Crashes to Record Low Amid Sanctions and Soaring Inflation
The US dollar has hit a record high in Iran, reaching 240,000 tomans on the open market. This historic low for the Iranian currency coincides with the country struggling under heavy US sanctions.
Annual inflation has surged to 61.4% in Iran, which is particularly concerning given that food prices have skyrocketed by 128.1% year-on-year according to official data.