A video circulating on social media shows Iranians displaying stacks of banknotes totaling the equivalent of $300 at the current exchange rate of 2.2 million rials per dollar, according to reports. The rial has been in a sharp decline amid U.S. sanctions and economic pressures, with The Zioneer previously reporting the currency crossing 2 million per dollar in August.
A viral video circulating on social media shows Iranian citizens holding stacks of banknotes that total just $300 at the current exchange rate of 2.2 million rials per dollar, illustrating the currency's accelerating collapse. The footage, which surfaced Thursday, provides visual confirmation of the record low first reported by N12 and covered by The Zioneer on Wednesday.
The rial has been in freefall. The Zioneer reported on August 24 that the currency had crossed 2 million per dollar for the first time, and on August 31 it fell further to 2.1 million. On Wednesday September 2, the rial hit 2.2 million per dollar, later worsening to 2.22 million in some transactions, with the dollar crossing 220,000 toman in the free market. The viral video now documents the real-world impact of that depreciation.
The Zioneer has previously reported on the broader economic crisis, including annual inflation of 89% and food price surges exceeding 130% (August 4). The US has intensified pressure through sanctions, a naval blockade, and reportedly ordering the closure of Bank Melli branches worldwide (August 24). These measures have severely constrained Iran's access to foreign currency and driven the rial's collapse, leading to long fuel queues and cost-of-living protests in rural provinces.
It remains unclear whether the currency will find a floor or continue its slide, as diplomatic and economic pressures show no sign of easing.
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