Iranian rial plunges to record low, exceeding 2.2 million to the dollar
Reuters reports the Iranian rial has fallen to a new record low, trading at over 2.2 million to the US dollar, as inflation nears 70 percent.
Key Takeaways
AIReuters has confirmed that the Iranian rial has dropped to a new record low, trading at more than 2.2 million rials to the US dollar.
The Iranian Statistical Center announced that annual inflation reached 69.9 percent during the Iranian month of Mordad (July 23 to August 22, 2026).
The consumer price index in Iran hit 700.1 in August 2026, marking a 3.4 percent increase from the previous month, an 89 percent rise compared to the same month last year, and a 69.9 percent increase over the twelve months ending this month compared to the previous year.