Enter search text:Iran's currency rial hits record low as US plans more sanctionsAPLast Updated: Aug 24, 2026, 06:57:00 PM ISTSynopsisIran's currency has plummeted to a staggering 2.02 million rials against the US dollar, reflecting deepening economic strain as Washington gears up for more sanctions. The rial's decline is fueled by persistent sanctions and a naval blockade, exacerbated by double-digit inflation and negative growth. The ongoing conflict, now nearing six months, has further devastated an already fragile economy.AgenciesIran's currency hit a new record low Monday, with the rial dropping to 2.02 million to the US dollar as markets opened, as the economy has been battered by ongoing sanctions and an American naval blockade.The drop on Iran's informal currency markets came as Washington prepared to announce even more extensive sanctions that it said would be an "economic D-Day" and would add further pressure.The currency had already been under pressure before the US and Israel attacked Iran on February 28, amid double-digit inflation and negative growth but has been hitting new record lows as nearly six months of war have taken an even greater toll.Read More News on(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price...moreless(You can now subscribe to our ETMarkets WhatsApp channel)Read More News on(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price...moreless