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Iranian Rial Plunges to All-Time Record Low of 2.7 Million Per US Dollar Amid Sanctions

Iran Currency Freefall Accelerates as Rial Drops 100,000 Against US Dollar in Single Day; Central Bank Injects $2 Billion Emergency Reserves as Inflation Reaches 73 Percent

I

International Desk

International Desk • 4 Oct • 2 min read

Iranian Rial Plunges to All-Time Record Low of 2.7 Million Per US Dollar Amid Sanctions
Currency traders examine foreign exchange rates in Tehran as the Iranian rial hit a historic low of 2.7 million per US dollar.

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].

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