Record Low Rial Slump
Iranian Rial Plummets to Record Low Amid Severe Inflation and U.S. Sanctions
Anonymous
Iran’s rial has fallen to a record low, with reports putting the free-market dollar rate at roughly 2.3 million to more than 2.4 million rials. The currency’s slide comes amid severe inflation and tighter U.S. sanctions, with annual inflation reported at 61.4% and food prices up about 128% year over year. The latest decline also reflects heightened uncertainty over the conflict and the Strait of Hormuz: President Trump rejected Iran’s proposal to reopen the waterway in exchange for easing the U.S. blockade and sanctions, while Tehran has signaled it is not prepared for direct negotiations. The worsening exchange rate underscores the economic costs of the impasse for Iran and the broader region.
Key Points
1
Iran’s proposal called for reopening the Strait of Hormuz in return for the U.S. lifting its naval blockade, waiving sanctions on Iranian oil sales, and observing a broader ceasefire.
2
Iran’s delegation at the U.N. General Assembly said it would not enter direct negotiations with Washington and had relayed that position through a Qatari mediator, continuing reliance on indirect communication.
3
British authorities were investigating five people arrested near RAF Fairford over an alleged plot involving three trucks; the article noted concerns about possible Iranian links.
4
The new U.S. sanctions cited in one report were dubbed “Operation Economic Outcast” and were aimed at further isolating Tehran financially from the international economy.
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