One US dollar now costs 2 million rials in Iran, and here’s what it can buy
The Iranian rial has fallen to a new all-time low against the US dollar, dropping past 2 million rials to $1 on the free market after Washington launched its toughest sanctions yet in efforts to strangle Tehran’s economy. Iran’s economy has been crippled by decades of US and international sanctions, especially over its nuclear programme – the Iranian rial has crashed and inflation woes are piling up misery for people.
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Key Facts
- Fact 1: The Iranian rial has fallen to a new all-time low against the US dollar, dropping past 2 million rials to $1 on the free market after Washington launched its toughest sanctions yet in efforts to strangle Tehran’s economy.
- Fact 2: The US-Israel war on Iran, launched on February 28, worsened the economic woes for the country of some 92 million people.
- Fact 3: Before the war, 2 million rials could buy about 4kg of tomatoes, half a kilo of chicken and a little less than a litre of cooking oil.
- Fact 4: Today, the same amount buys about half as much, with the average price of tomatoes increasing by 71 percent, chicken by 74 percent and cooking oil by 177 percent.
The Iranian rial has fallen to a new all-time low against the US dollar, dropping past 2 million rials to $1 on the free market after Washington launched its toughest sanctions yet in efforts to strangle Tehran’s economy. Iran’s economy has been crippled by decades of US and international sanctions, especially over its nuclear programme – the Iranian rial has crashed and inflation woes are piling up misery for people.
The US-Israel war on Iran, launched on February 28, worsened the economic woes for the country of some 92 million people. New US sanctions signal Trump desperation on Iran, experts say Iran bets economic pain will pressure Trump in game of ‘chicken’ Iran, Oman agree on new temporary route in Hormuz Trump threatens Iran’s partners: How do secondary sanctions work? To understand how much everyday items now cost, Al Jazeera tracked the prices of food, clothing and medicines on the streets of Tehran, comparing them with what the same goods cost in the days before the war.
(Original synthesis pending human/AI review — generated by the stub provider by selecting real sentences from the source material, not by writing new analysis or commentary.)
Original source: Al Jazeera
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