Iranian Rial Slumps to Fresh Low Against US Dollar at 2.25 Million Per Dollar

The Iranian rial has reached an all-time low against the US dollar, falling to approximately 2.25 million rials per dollar on Saturday.

This latest decline represents a 12.5% drop in value since late August, when it first crossed the 2 million-riyal mark against the dollar.

The currency's continued depreciation is putting additional pressure on Iran's economy, leading to concerns over inflation and the cost of imported goods as the rial loses value against major foreign currencies.