RIAL PLUNGES TO ALL TIME LOW AGAINST THE DOLLAR

 Iranian rial hits a record low of 850,000 rials to the dollar, exacerbating the country’s economic crisis. This fall has been accelerated by US President Donald Trump’s decision to reimpose crippling sanctions on Tehran.

Since 2018, when the US withdrew from the Iran nuclear deal, the currency has divided by more than 25. By comparison, ten years ago, $1 was worth 32,000 rials.

The Iranian economy, already weakened by rocketing inflation and sanctions on its oil exports, is bearing the brunt of this latest devaluation. The government is trying to contain the crisis by restricting access to dollars and tightening price controls, but shortages and the rising cost of living are exacerbating popular discontent.

Faced with this monetary pressure, Teheran may intensify its negotiations to release frozen funds abroad and explore other economic alliances. But as its nuclear programme gathers pace, tensions with Washington remain high.

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