August 25, 2026 | 07:45 pm
TEMPO.CO, Jakarta - Iran's currency plunged to a record low on the open market on Monday, August 24, hours before the United States announced a new wave of sanctions aimed at further isolating Tehran.
According to ANTARA, when trading opened on the foreign exchange market, the rial fell to 2.02 million rials per US dollar, while the Central Bank of Iran's official exchange rate was around 1.5 million rials per US dollar.
The currency, already under pressure before the joint U.S.-Israeli strikes on February 28, continued to hit new record lows as the nearly six-month-old conflict further weighed on Iran's economy.
U.S. Treasury Secretary Scott Bessent warned on Monday of an "Economic D-Day" for Iran, announcing what he called an economic attack on Iran's financial networks worldwide.
According to the U.S. Treasury Department, the new sanctions target five key sectors: digital assets, technology, gold, aviation, and shipping.
Read: US Announces Bid to Further Isolate Iran Economically
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