Iranian Rial Rate Falls to Historic Low
The currency's decline will worsen further inflation in the country.
Photo: Fatemeh Bahrami/Anadolu via Getty Images
The Iranian rial's exchange rate reached a record low — 1.8 million per $1, according to The Washington Post (WP).
The rial began to fall two days ago and reached a record low today. The fall of the rial will worsen further inflation in the country, where the import of many goods — from food and medicines to electronics and raw materials — depends on the dollar's exchange rate.
The value of the rial has been falling since the beginning of the American-Israeli operation in late February. In late March, the currency showed a significant increase for the first time since then — by 6.7%, to 1.559 million per $1.