The Iranian rial is approaching two million to the dollar, according to market data, as the currency's sharp decline continues. The latest level follows a slide to 1,918,000 earlier today.
The Iranian rial is approaching two million to the dollar as of 17:01 Jerusalem, according to market data, extending the sharp decline that saw the currency hit 1,918,000 per dollar earlier today.
The earlier decline was reported by The Zioneer at 13:07 Jerusalem, when the rial reached 1,918,000 per dollar, as reported by financial reporter Asaf Rozenzweig (N12). That followed a report at the same time from Abu Ali Express that the rial had hit an all-time low of 1.93 million per dollar, after breaching the 1.9 million threshold. The corroboration thus evolved from a single source (Abu Ali Express) to multiple sources, with N12 adding confirmation.
The rial has been weakening steadily since the US-Iran memorandum of understanding was signed in late June, despite the reopening of the Strait of Hormuz. As The Zioneer reported on June 28, the rial was trading at around 1.7 million to the dollar. It slid further to 1.77 million on July 2, and to 1.8 million on July 8 after President Trump's remarks on the MOU. More recently, on July 15, the dollar was nearing 190,000 toman in Tehran.
The exact trigger for the latest leg of the decline is not specified in the reports. The rial's trajectory toward the symbolic two-million threshold remains under pressure, with no indication of a reversal.
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Source and signal
- Internal intake