Iran’s currency, the rial, has fallen to a record low against the US dollar amid continued economic pressure from the US naval blockade, according to data reported by AFP.
The report said the rial dropped to around 1.80 million per dollar on the black market, citing tracking platforms Bonbast and AlanChand. This marks a decline from roughly 1.70 million when the conflict began two months ago.
The Iranian rial has dropped to a new record low against the US dollar.
— Al Jazeera English (@AJEnglish) April 29, 2026
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According to AFP, Iran maintains official exchange rates, but black market figures are widely seen as more reflective of real conditions.
US President Donald Trump has argued the blockade will pressure Tehran into accepting a deal, warning the regime to act quickly.
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TIPP Staff
