Iranian Rial Hits New Record Low Amid Ongoing War
The Iranian rial has plummeted to a new record low, with traders exchanging over 2.5 million rials for every U.S. dollar in Tehran.
This latest decline comes just 27 days after the currency hit its previous record low of 2.2 million rials to the dollar on September 2nd.
The currency has repeatedly reached new lows since the war began in February, and the ongoing conflict is eroding Iran's economic stability.