Iran’s rial is plummeting, now trading at over 2.24 million per dollar on the open market—its weakest level ever and a 12% drop since it breached 2 million in late August. Just a year ago, the rate stood at around 1.1 million. Amid the crash, food prices have skyrocketed by 128%, slashing the real value of the minimum wage to about $74 a month. The downturn sharply accelerated after the U.S. Treasury launched "Operation Economic Outcast" on August 24.
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