TEHRAN: (Web Desk) – Iran is witnessing a historic decline in the value of its currency, the Iranian Rial, amid a severe economic crisis.
According to foreign news agencies, the open market rate has reached 1 USD = 1,500,000 IRR, marking the lowest level in the country’s history. Arab media reports indicate that exchange shops are offering the same rate, reflecting the mounting pressure on Iran’s economy caused by years of mismanagement and stringent international sanctions.
This sharp depreciation comes a month after shopkeepers in Tehran staged protests by closing their businesses, citing the rapid fall of the Iranian Rial and the deteriorating economic conditions as the main reasons.
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Meanwhile, details of the conditions for U.S.-Iran negotiations have also emerged, highlighting the complex geopolitical and economic challenges facing the country.
Iran’s economic instability continues to affect everyday life, with citizens and traders struggling to cope with soaring prices and the weakening currency.
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