Iranian Rial Plunges to Record Low Amid Escalating Regional Tensions

The Iranian rial has hit an all-time high against the US dollar on the free market, reaching a record 233,900 tomans on September 9. This is according to Oxu.Az, which cited the Telegram channel 'Free Iran' as its source.

Just two weeks ago, the dollar was trading at 206,400 tomans, marking a depreciation of approximately 13% for the Iranian rial in this short period.

The sharp collapse of the national currency is taking place against the backdrop of an escalating military conflict in the region. The United States Central Command (CENTCOM) had recently announced the destruction of five Iranian oil tankers, and in response, the Islamic Revolutionary Guard Corps (IRGC) reported an attack on 20 vessels in the waters of the Strait of Hormuz.