The Iranian rial has plunged to historic lows, with the unofficial open-market rate hitting roughly 1.45+ million rials per U.S. dollar, marking an unprecedented depreciation and fueling nationwide economic despair.
This collapse stems from runaway inflation (over 40%), shrinking oil export revenue due to sanctions, budget deficits, and mismanagement of foreign exchange policy, which have eroded foreign-currency reserves and confidence in the currency.
As the rial weakens, prices for food, medicine, and basic goods have soared, squeezing household budgets and driving citizens to seek stability in dollars, gold, and crypto a classic “flight to safety” amid collapse.
The currency freefall has ignited mass protests across Iran, transforming economic grievances into broader political unrest and challenging the regime’s legitimacy amid violent crackdowns and internet blackouts.
Foreign nations and markets are watching closely, with sanctions and geopolitical tension compounding risk, while Iran’s dependence on oil exports and restricted access to global finance deepen the crisis. This isn’t just inflation it’s a systemic economic meltdown with global implications.
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