Iranian Rial Plummets to New Record Low Amid Ongoing Sanctions Threat

The Iranian currency has reached a new record low against the US dollar as Washington prepares to announce more sanctions. The rial dropped to 2.02 million to the dollar in informal markets, while the official Central Bank rate stands at around 1.5 million rials per dollar.

This comes after nearly six months of war, which has taken a toll on Iran's economy. The country is already facing double-digit inflation and negative growth, making it difficult for citizens to afford basic necessities.

US Treasury Secretary Scott Bessent has promised even stronger sanctions than those already in place, including secondary sanctions on countries that continue to do business with Iran. This move aims to further pressure the Iranian regime and its economy.