Iran Currency Hits Record Low

Iran’s rial has hit a record low, depreciating 5% in January, with rates reaching 1,504,000 rials and spikes up to 1.65 million. Analysts cite international sanctions, soaring inflation over 42%, and the removal of subsidized exchange rates as key factors in the currency’s collapse. This economic crisis has led to widespread poverty, with estimates suggesting 22% to 50% of the population lives below the poverty line, sparking protests against the government. The crackdown on dissent has resulted in significant casualties, with reports of over 30,000 deaths.

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