Iranian Rial Plummets to Historic Low at 2 Million Rials per US Dollar

The Iranian Rial has hit an all-time low, reaching an unprecedented value of 2 million rials per US dollar. This significant depreciation comes after a nearly 7% fall in value over just one week.

In comparison to the same period last year, the rial's value has plummeted by over 50%, dropping from around 958,000 rials to the dollar.

Iranian officials have acknowledged the severe economic vulnerability of their country. Speaker of Parliament Mohammad Ghalibaf warned that 'if the people are hungry and we lack financial turnover, economic growth, and national production, we will not survive.'

Persuadingly, Iranian President Masoud Pezeshkian attempted to reassure his people by stating that his government is working tirelessly to counter the 'economic war' imposed by US President Donald Trump.