2.2 Million Rials per Dollar: Iranian Currency Hits All-Time Low
Al-Taj News – The Iranian rial hit its all-time low against the dollar on Wednesday, surpassing the threshold of 2.2 million rials per dollar in the unofficial market, amid mounting pressure on the Iranian economy and strained relations with the United States.
According to data from Bonbast, a website specializing in tracking exchange rates, the dollar traded above the 2.2 million rial level in the unofficial market in the capital, Tehran.
As a result, the rial has lost more than 15% of its value since U.S. President Donald Trump announced what he described as a “crushing economic operation” against Iran.
Meanwhile, the official exchange rate of the rial at the Central Bank of Iran stands at around 1.5 million rials per dollar. However, the unofficial market rate is effectively used by many Iranians to obtain the U.S. currency.
Two Billion Dollars Injected
The latest decline in the Iranian currency comes a day after Central Bank of Iran Governor Abdolnaser Hemmati confirmed that his country has sufficient foreign currency reserves despite U.S. sanctions, announcing that the bank is prepared to inject up to $2 billion into the foreign exchange market to ease volatility.
Hemmati confirmed that Iran has secured $18 billion in foreign currency since the beginning of the year, adding: “The Americans say every day that we will announce sanctions every week, so let them do it. We are also doing our duty; the Central Bank and the rest of the country’s economic system have not stood idly by.”
Trump recently said that the Iranians are bankrupt and have no money, while U.S. Treasury Secretary Scott Bessent threatened the Iranians, saying, “You will see more of these sanctions every week,” according to Tasnim News Agency.
In a message addressed to the Iranian people, Hemmati said: “I tell the people sincerely that managing the economic situation and livelihoods has become difficult, but collapse has never happened and will never happen. These claims are nothing more than psychological warfare, and things will calm down soon.”
