Iran’s national currency, the rial, has fallen to its lowest level in history, with the US dollar surging to around 1.5 million rials in the open market, according to international media reports. The sharp decline comes amid nationwide protests and demonstrations, highlighting the deepening economic crisis. Analysts say the slide reflects growing pressure on Iran’s foreign reserves, largely driven by reduced oil exports due to international sanctions.
The weakening currency has widened the gap between official and open market rates, adding to market uncertainty and shaking public confidence. As a result, inflation has surged, pushing up prices of food, housing, and essential goods, making daily life harder for ordinary citizens.