Apr 29, 2026
Iran's Rial hits record low of 1.8 Million to the Dollar as US blockade tightens
Iran's rial fell nearly 15% in two days to a record low of 1,810,000 to the dollar, as demand for foreign currency that had built up during six weeks of fighting flooded the open market following the ceasefire. The US naval blockade has cut off Iran's oil export revenue while year-on-year inflation reached 65.8%, compounding an economic crisis that had already helped spark the January 2026 protests.
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