One US dollar now costs 2 million rials in Iran, and here’s what it can buy

One US dollar now costs 2 million rials in Iran, and here’s what it can buy

Sanctions and the US-Israel war on Iran have left the country’s people unable to keep pace with rising prices.

Iran's Rial Crashes to a Record Low as New Sanctions Target Its Bitcoin Mining Lifeline

Iran’s rial collapsed to a record low this week just as President Trump’s new sanctions package named digital assets as a target for the first time, threatening the IRGC’s billion-dollar bitcoin mining workaround. A Record-Low Rial and a New Sanctions Wave Iran’s open-market exchange rate slid to roughly 2.02 million rials per dollar earlier this […]

Iran Rial Plunges as US Sanctions Loom

The Iranian rial has fallen to a new low as the US prepares to announce further sanctions, prompting Iranians to rush to currency exchanges. The rial opened at about 2.02 million to one US dollar on Monday, leaving the currency worth roughly half its value at the beginning of the year. The sharp decline has continued through nearly six months of war, adding to economic pressure on households across Iran. In Tehran, residents have been queuing at…