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Iranian Rial Plummets to Historic Low Amid Deepening Economic Crisis
Iran's rial has collapsed to a record low amid worsening economic conditions driven by war, US sanctions, and trade disruptions. Inflation and unemployment are rising sharply, food prices have surged, and political talks with the US have stalled.
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What happened
- 01Iranian rial falls to 2 million per US dollar, a 47-fold drop in two years.
- 02Inflation hits 87.9% and unemployment rises to 9.1% as GDP contracts by 5.4% in 2026.
- 03Food prices soar over 400%, with rice up 60% and meat up 150%, sparking protests.
- 04Central Bank works nonstop to clear grain and medicine imports at Bandar Abbas port.
- 05US-Iran nuclear talks stall after 60-day deadline with no sanctions relief.
- 06Iran warns countries joining US economic pressure will be treated as enemies.
Iranian officials deny the crisis severity, while opposition figures call for regime change.
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