Iran’s national currency, the rial, has effectively collapsed, now trading at roughly 1.4 million rials per U.S. dollar.
Iran’s national currency, the rial, has completely collapsed against the U.S. dollar as the country’s economic crisis worsens. The value of one rial is now worth $0.00 right now.
On the open market, one U.S. dollar now trades for roughly 1.4 million rials, a collapse that has erased decades of purchasing power and fueled widespread unrest.
The currency’s plunge isn’t new, but the pace of decline in 2025 and early 2026 has been dramatic. Sanctions remain severe, oil revenues have shrunk, and political instability has driven investors and ordinary Iranians to seek alternatives to the rial and even to the U.S. dollar.
Inflation is soaring. Prices on food, medicine and basic goods have jumped sharply, forcing many families to spend a larger share of income just to survive. The official inflation rate climbed above 42% late last year, though actual costs for staples may be higher at this point.
