Iran’s rial is plummeting, now trading at over 2.24 million per dollar on the open market—hitting a record low and falling 12% since breaching 2 million in late August. Just a year ago, the exchange rate stood around 1.1 million. Amid the crash, food prices have skyrocketed by 128%, slashing the real value of the minimum wage to roughly $74 a month. The downturn sharply accelerated after the U.S. Treasury launched "Operation Economic Outcast" on August 24.
BW Daily
September 7, 2026 1.1K 1
