Iranian rial hits new record low as blockade, war take toll: What to know

The rial had another collapse in late 2025, triggering massive protests and riots in the country that were ended by a forceful government crackdown.

Adam Lucente

Apr 29, 2026

The Iranian rial hit a new record low of 1.8 million to the US dollar on Wednesday as economic strain mounts from the war and the ongoing US naval blockade.

What happened: The currency weakened to 1.82 million rials per dollar on the informal market on Wednesday, after starting the month at 1.56 million.

The rial had remained relatively stable during the first two months of the war, trading at 1.66 million to the dollar at the end of February and 1.55 million at the end of March, according to currency tracker Nevasan.

That relative........

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