Iranian rial plunges past 2 million per dollar, tracking sites show

Iran's national currency has weakened to an all-time low on the unofficial exchange market, with tracking websites recording a rate of more than two million rials for a single US dollar on Monday.

The figure marks a fresh nadir for the rial, which has been under sustained pressure in recent months. The rates displayed on the two tracking platforms reflect the free-market value of the currency, distinct from the official state-set exchange rate.

The drop underscores the deepening economic strain facing Iranian households and businesses, many of whom rely on the open market for hard currency. Analysts have pointed to a combination of international sanctions, domestic inflation, and political uncertainty as key drivers behind the currency's slide.

Neither the central bank nor government officials have issued an immediate public response to the latest depreciation. The record low comes amid ongoing negotiations and speculation over the country's economic trajectory, with the rial's decline adding to the cost of imports and eroding purchasing power for ordinary citizens.