Iran’s currency crashes past 2 million per dollar as US tightens sanctions

Iran’s currency, the rial, has hit a record low on the open market, trading at more than two million rials per US dollar. The drop was reported by websites that track currency movements. The free market rate is separate from the official rate, which currently values the rial about 29 percent higher against the dollar. The widening gap reflects growing pressure on Iran’s economy as the United States prepares to tighten sanctions. Analysts say the move signals rising investor and public concern over the impact of stricter US measures. The official rate, often used for state-controlled imports, remains more stable, but the open market rate is a key indicator of real economic sentiment. The decline comes as Washington plans to increase enforcement of existing sanctions, adding to challenges for Iranian businesses and households already dealing with high inflation.