Iran's rial hits new record low amid war and sanctions pressure
Iran's currency hit a fresh record low this week, with outlets citing sanctions and war-related pressures on the economy.
What happened
Iran's rial fell to a new record low on Tuesday, with traders exchanging more than 2.5 million rials to the US dollar, according to Arab News and Anadolu Agency, which cited a rate of 2.548 million.23
The decline came 27 days after the rial's previous record low of 2.2 million to the dollar on September 2, according to Arab News, which said the currency has repeatedly hit new lows since war began in February.2
Clarín reported the currency drop is tied to war, economic uncertainty and international sanctions, and said Iran's regime has signaled openness to new negotiations with the United States to end the conflict.1
Anadolu Agency attributed the record low in part to heavy US sanctions.3
Key points
What the coverage leaves out
- None of the outlets reviewed reported an official Iranian government statement on the currency decline.
- None of the outlets reviewed detailed the specific effects of the falling rial on prices or daily life inside Iran.
Why it matters
Sources (3)
Every outlet we drew on, grouped by where it is based. Read the originals for the full reporting.
Latin America
- 1ClarínARPrivate
Due to war and economic uncertainty, Iran's currency sinks to a historic low
Translated from Spanish: Por la guerra y la incertidumbre económica, la moneda de Irán se hunde en un mínimo histórico
Middle East & Turkey
- 2Arab NewsSAPrivate
Iran’s currency hits a new record low as war erodes the country’s economic stability
- 3Anadolu AgencyTRState-controlled
Iranian rial hits fresh record low as US dollar tops 2.5M in free market