Iranian Rial Hits Record Low as US Unleashes Economic Sanctions

The Iranian Rial has hit a record low against the US dollar, reaching an open-market rate of 2.02 million rials per dollar.

The devaluation is attributed to the recent launch of 'Operation Economic Outcast' by the White House, which aims to isolate and financially strangle Iran.

Treasury Secretary Scott Bessent warned that this marks an 'economic D-Day,' and announced new sanctions on over 60 targets, expanding sanctionable sectors to include digital assets, technology, gold, aviation, and shipping.

The US has also threatened secondary sanctions against trade partners of Iran, which could be implemented within weeks, further crippling the country's economy.