Iranian Rial Plunges to New Record Low Against US Dollar

The Iranian rial has hit a new record low against the US dollar. On September 5, 2026, it was trading at around 2.25 million rials per US dollar, down from approximately 2.2 million rials earlier in the week. This decline marks an 12.5% drop since it first crossed the 2 million mark in late August.

The source of this volatility is unclear, but Iran's economic woes have been well-documented. The country has struggled with inflation, unemployment, and sanctions imposed by other nations.