Iran’s currency fell to an all-time low against the U.S. dollar on Monday, as Washington intensifies efforts to weaken the country’s economy nearly six months into the war.
The rial traded above 2 million per U.S. dollar on the parallel market, according to exchange-rate tracking website Bonbast. The currency has lost 4.5% since U.S. President Donald Trump announced what he called a “crushing economic operation” against Tehran last week.
The unofficial exchange-rate tracker TGJU reported that the rial crossed the 2-million-per-dollar threshold on Sunday before closing slightly below that level.
The currency is under mounting pressure as the United States seeks to isolate Iran by threatening its remaining trading partners, while imposing a blockade on major ports in the Persian Gulf and restricting oil exports, a key source of foreign-currency revenue for the country.
