TREE NEWS reports: The US dollar broke through 2.45 million Iranian rials on Iran’s free market on Monday, sending the rial to a record low. The rate opened around 2.405 million and climbed through the session, up from roughly 2.33 million less than a week earlier and about 1.11 million a year ago — more than doubling over the past year.
Iranian Rial Hits Record Low as Dollar Tops 2.45 Million
AI take
The rial's slide is now a story about pace rather than level: a move of this size in a single week suggests the free-market rate is being driven by expectations as much as by flows, and the gap between the free rate and any official rate is where the real stress shows. Ordinary Iranians holding rials absorb the hit directly, while any entity settling cross-border trade faces repricing risk that is hard to hedge. Whether the weekly decline keeps accelerating, or the market finds a floor, is the open question.
Generated by AI for reference only.
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