Iran's Rial Currency Hits New Record Low
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"If the people are hungry and we lack financial turnover, economic growth, and national production, we will not survive," Iran's Speaker of Parliament said
Iran’s currency, the rial, has hit a record low, trading at over 2 million rials to the dollar on unofficial markets. The devaluation comes a day before the United States is due to impose what US Treasury Secretary Scott Bessant described as “the toughest sanctions in history” on Tehran.
US Treasury Secretary Scott Bessent is expected to unveil further details on Iran sanctions at a press conference, which may include secondary sanctions targeting entities and countries that continue trading with Iran,
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Iran’s central bank chief says currency weakness ‘temporary’
The Iranian currency has lost nearly 10% of its value over the last two weeks, with the US set to lay out its plans for 'economic warfare' against Tehran.