The Iranian rial has fallen to a record low — Bloomberg
The exchange rate of the Iranian currency on the black market has hit a new all-time low—about 2 million rials per U.S. dollar.
The rial’s decline comes on the eve of new, tough economic measures from Washington. U.S. Treasury Secretary Scott Bessent called the upcoming sanctions against Iran “economic D-Day.”
Back in late December, when mass protests began in the country, the dollar was worth about 1.45 million rials. Following previous upheavals and the war with Israel, the Iranian currency has continued to lose value rapidly.
Source: Bloomberg
As a reminder, 16 million barrels of oil were transported through the Strait of Hormuz overnight.
Earlier, the U.S. announced that it would facilitate the transit of 660 million barrels of oil through the Strait of Hormuz.
