Iranian rial hits record low as US dollar surpasses 200,000 toman

The Iranian rial suffered an unprecedented decline, falling past the 200,000 toman (2 million rials) mark against the US dollar for the first time at the close of trading on Sunday.

The dollar was trading at 200,050 toman, while the euro reached a new record of 233,700 toman, according to data from Iranian currency market monitors.

This sharp collapse coincided with statements from US President Donald Trump and Treasury Secretary Scott Bessent announcing Washington's intention to impose a new round of sanctions aimed at exerting severe economic pressure on Tehran to force a change in its policies.

Futures trading indicated the dollar's rapid surge, which began in recent days, was continuing. The dollar jumped by more than 6,000 toman in a single day, after trading at 193,480 toman the previous day.

The situation is further complicated by escalating tensions between Tehran and Washington, with uncertainty surrounding the possibility of resuming any negotiations between the two sides.

Iran's economy faces severe challenges, most notably high inflation rates and strict currency market controls, adding to uncertainty about the country's economic outlook.

Western sources noted that the rising exchange rate directly increases the cost of imports and prices of essential goods and services, eroding household purchasing power and making the currency rate a key indicator of the depth of economic pressures facing the country.