Iran's Rial Crashes as Dollar Hits Record 200,050 Tomans

The Iranian rial has hit a record low against the US dollar, reaching 200,050 tomans in evening trading on Sunday. This marks a sharp depreciation in recent days, with the dollar trading at around 195,000 tomans just one day prior.

The euro also reached a record high of 233,700 tomans. One toman is equivalent to 10 Iranian rials, putting the value of the rial at an all-time low.

The decline in the rial's value comes ahead of an expected US announcement of new sanctions on Monday, with Treasury Secretary Scott Bessent stating that Washington plans to impose the 'toughest sanctions in history' on Iran as part of an intensified economic pressure campaign.