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The Economic Times

Business / The Economic Times

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Iran's currency rial hits record low as US plans more sanctions

Iran's currency has plummeted to a staggering 2.02 million rials against the US dollar, reflecting deepening economic strain as Washington gears up for more sanctions. The rial's decline is fueled by persistent sanctions and a naval blockade, exacerbated by double-digit inflation and negative growth. The ongoing conflict, now nearing six months, has further devastated an already fragile economy.

24 Aug 2026 6:57 pm