Rial Plummets to New Low Amid Ongoing Conflict

The Iranian rial has hit a new record low, dropping to over 2.2 million rials per US dollar on Wednesday amid renewed military strikes.

This represents a 10% decline in value over the past week and marks a loss of nearly half its value since last year's tightening of US sanctions.

The troubled currency has been under pressure due to the ongoing conflict, with US and Israeli attacks beginning in February having further exacerbated the situation.