Iranian rial plummeted to record low

Iranian rial plummeted to record low
© Photo: Maria Novoselova/ Vestnik Kavkaza

The Iranian rial declined to an all-time low during trading on Sunday, driven by the ongoing military conflict and international sanctions against Tehran.

The US dollar is now trading at approximately 1.9 million rials. The euro has climbed to 2.23 million rials, while the British pound has reached 2.58 million rials against the Iranian currency.

The rial's sharp decline comes amid reduced oil exports, the war, and sustained sanctions pressure on the Islamic Republic.

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