The Iranian rial fell past 2 million per dollar on Monday, according to reports, marking the first time the currency has crossed that threshold as it continues its sharp decline under US sanctions and an American naval blockade.
The Iranian rial officially crossed the 2-million-per-dollar threshold on Monday, according to market data cited by Amichai Stein (i24NEWS), marking a further decline after first breaching the level on Sunday. The currency's slide continues under the weight of US sanctions and a naval blockade, with Treasury Secretary Scott Bessent expected to announce a new sanctions package tonight.
The Zioneer reported at 15:12 today that the rial had crossed the 2-million mark. This follows a series of declines reported in the thread: on Sunday August 23 at 15:27 Jerusalem, The Zioneer reported that the rial crashed to about 2 million per dollar and that Treasury Secretary Bessent would announce an 'Economic D-Day' sanctions package. Prior to that, on July 20, the rial fell to 1.95 million, and on July 17 it was nearing 2 million. The currency has lost over 30% of its value in recent weeks.
The collapse is part of a broader US economic pressure campaign. As The Zioneer reported in June, President Trump threatened strikes and outlined plans for seizing Iran's Kharg Island oil export hub. The rial's decline has accelerated since the US intensified its maximum-pressure campaign earlier this year.
It remains unclear whether the currency will stabilize or continue to fall, and whether tonight's expected sanctions announcement will trigger additional decline. The actual impact on Iran's economy and the regime's response are not yet known.
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