Brief by Shorts91 Newsdesk / 05:02pm on 29 Apr 2026,Wednesday Business
Iran's national currency has collapsed to a historic low of 1.8 million rials per US dollar, raising severe inflation fears across the country. The plunge follows weeks of relative stability during the conflict that began February 28, when limited market activity had temporarily shielded the rial. The currency's renewed freefall is driven by a US blockade curtailing oil exports, ongoing international sanctions, and fragile ceasefire conditions. Economists warn that rising import costs for food, medicine and essential goods will intensify household hardship. This crisis echoes January's shock drop from 1.4 to 1.6 million rials, which triggered widespread public protests, raising fears that deeper economic deterioration and fresh civil unrest may lie dangerously ahead. (PC: X)
