Iranian Rial hits record low as inflation and sanctions bite
Iran's currency has plunged to a new record low, with the rial reportedly weakening beyond 2.02 million to the U.S. dollar on the open market. The slide comes as Iranian households grapple with soaring inflation, rising living costs and the economic fallout of conflict and sanctions. Despite mounting pressure, Tehran says it is implementing a two-year economic recovery plan aimed at stabilising markets, boosting production and reducing the impact of sanctions.
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