
The Iranian rial has plummeted to an all-time record low against the US dollar, trading at 2.7 million rials per USD on Saturday following ongoing economic pressures driven by tight US sanctions targeting Iranian crude oil exports.
The rapid depreciation saw the rial shed 100,000 units of value against the greenback within a 24-hour window, declining from 2.6 million rials per dollar on Friday to 2.7 million on Saturday. In response to the market collapse, state broadcaster reports confirm that the Central Bank of Iran has decided to inject more than $2 billion into the foreign exchange market to stabilize national currency reserves. Over the past twelve months, the Iranian rial has lost nearly half of its overall value, with domestic annual inflation soaring to 73 percent. The severe currency devaluations have sparked widespread public concern across social media platforms, as Iranian citizens document the diminishing purchasing power of local earnings.
— Daily Best News Desk • Fearless in the search for truth
Reported by International Desk • Edited by the Daily Best News desk. Send corrections to [email protected].







