14:33 - 24.08.2026

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August 24, Fineko/abc.az. Iran’s national currency has hit a new historic low against the US dollar following intensified sanctions pressure from Washington.

According to the currency tracking platform Bonbast, the US dollar traded at 1.992 million rials on the open market—reflecting a 4.5% depreciation since US President Donald Trump announced a major economic offensive against Tehran last week. Data from the unofficial tracking site TGJU showed the dollar briefly breaching the 2 million rial threshold earlier in the day.

The currency's sharp decline stems from US efforts to deepen Iran's economic isolation. Washington’s blockade of key Persian Gulf ports and pressure on Tehran's remaining trade partners have severely curtailed oil exports, the nation's primary source of foreign exchange.

Central Bank of Iran Governor Abdolnaser Hemmati acknowledged that crude oil exports have come to a near standstill. Furthermore, the United Arab Emirates, one of Iran's vital trade partners, suspended all financial transactions with the country until further notice.

Economic analysts attribute the currency’s downward spiral to severe disruptions in foreign exchange inflows, rising import demand, and escalating inflationary expectations.