Iranian Rial Plunges to New Record Low Amid Economic Pressure

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Iranian Rial Plunges to New Record Low Amid Economic Pressure
  • 29 Sep, 19:36
  • Iran

Iran’s rial fell to a new record low against the US dollar on Tuesday, with traders in Tehran exchanging more than 2.5 million rials for one dollar, underscoring the economic damage caused by the ongoing US-Israeli war.

The latest drop came only 27 days after the currency reached its previous record low of 2.2 million rials per dollar on September 2, The Caspian Post reports, citing Al Jazeera.

The rial has repeatedly fallen to new lows since the war began in February.

Before the United States and Israel launched their attack on Iran, the dollar was trading at around 1.7 million rials on the open market.

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Iranian Rial Plunges to New Record Low Amid Economic Pressure

Iran’s rial fell to a new record low against the US dollar on Tuesday, with traders in Tehran exchanging more than 2.5 million rials for one dollar, underscoring the economic damage caused by the ongoing US-Israeli war.