Iran’s national currency has plunged to a record low, with the US dollar now trading above 1.63 million rials in the free market. The historic drop highlights the country’s worsening economic crisis and growing pressure on ordinary citizens.
According to Iranian currency trackers Alanchand and Bonbast, the dollar reached between 1,637,000 and 1,646,500 rials on February 19 in Tehran. This marks the weakest level ever recorded for the rial and shows a continued decline from previous days.
In contrast, the official rate set by the Central Bank of Iran remains much stronger at about 1.28 to 1.29 million rials per dollar. This large gap shows the difference between the government’s controlled rate and the reality of the open market.
The collapse comes as inflation continues to rise sharply. Experts estimate inflation at 50 to 60 percent per year, making food, fuel, medicine, and imported goods far more expensive. Many families now struggle to afford basic necessities, and purchasing power has fallen dramatically.
Economic pressure has increased since stronger sanctions were imposed by the United States in 2025. These restrictions have limited oil exports and reduced access to foreign currency, making it harder for Iran to stabilize its economy.
The currency crisis has also fueled public anger. Protests began in late 2025 after the rial first crossed 1.4 million per dollar. Demonstrations spread across major cities, with shopkeepers, students, and workers protesting rising prices and economic hardship.
Analysts say the rial’s collapse is driven by sanctions, economic mismanagement, and ongoing political tensions. The currency has lost more than 70 percent of its value in the past six months in the free market, showing how fast the situation has worsened.
Economists warn that further decline could lead to more unrest unless major economic changes happen. For now, the falling rial remains a clear sign of Iran’s deep economic crisis and uncertain future.
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