Iranian rial hits record low of 1,810,000 per dollar
The rial dropped 15% in two days as demand for hard currency surged following a ceasefire. A U.S. shipping blockade and damaged infrastructure limit exports.
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Iran's rial fell 15% to a record 1,810,000 per USD on Wednesday midday as a ceasefire sparked a rush for hard currency. The drop follows six weeks of conflict involving the United States and Israel. Renewed currency volatility threatens to reignite nationwide protests and complicates reconstruction efforts for the heavily sanctioned economy.
