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strikeAug 24, 2026

No relief for Rial: Iranian currency sinks to record low as US works on new sanctions

Summary

Iran’s rial hit rock bottom on Monday, falling to a record low as Washington prepared what it called an “economic D-Day”. The fresh sanctions are set to pile more pressure on an economy already battered by existing restrictions and a US naval blockade.

Source: Shivanghi Payal — Read the full report

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  • Shivanghi PayalBy Shivanghi Payal

    Iran’s rial hit rock bottom on Monday, falling to a record low as Washington prepared what it called an “economic D-Day”. The fresh sanctions are set to pile more pressure on an economy already battered by existing restrictions and a US naval blockade. The rial fell to 2.02 milli…

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Axios journalist Barak Ravid reported that a senior American official said President Donald Trump could be more inclined to authorize a large-scale military operation against Iran if the Republican Party loses the upcoming midterm elections. The official stated that such a political setback might prompt the US commander-in-chief to seek a decisive demonstration of power on the international stage to reassert political authority.

Location: Iran