Iranian rial hits record low above 2.2 million per dollar

The rial's record slide underscores how sanctions and domestic strain are compounding into a self-reinforcing currency crisis, where depreciation feeds inflation and erodes confidence. This matters beyond Iran's borders because it signals heightened economic instability in a major energy producer, which could have ripple effects on regional trade and oil market sentiment. The key question is whether policymakers can arrest the decline without resorting to measures that further distort the market, or if the currency's fall becomes a barometer for broader geopolitical escalation.