US dollar surges to 2.229 million rials as Iranian currency plunges

The Iranian rial has suffered a significant drop against the US dollar, coinciding with ongoing economic pressure on Tehran.

According to Iranian financial news outlets, the dollar reached 1.220 million rials, marking a new record low for the currency.

This development comes as Iran's economy continues to struggle under a US-imposed maritime blockade and ongoing American economic sanctions.

The sharp decline in the rial has paralleled rising inflation rates in the country, fueling concerns over the impact on prices of essential goods and food.