Iran’s Rial Nears 2 Million per Dollar as Economic Isolation Deepens

Iran’s currency crisis is accelerating.
The rial has weakened to nearly 2 million per U.S. dollar on the parallel market as Washington intensifies economic pressure on Tehran.
The latest selloff comes as Iran faces growing difficulty moving oil, accessing foreign currency and maintaining normal financial links with regional trading partners.
The UAE has suspended financial transactions and broader economic ties with Iran, adding another layer of pressure to an already isolated banking system.
At the same time, tighter U.S. sanctions are targeting the countries, banks and companies that still provide Iran with an economic lifeline.
That is pushing Tehran even further toward China and alternative payment networks tied to BRICS countries.
But those relationships do not fully replace access to dollar-based trade and finance.
A weaker rial raises the domestic cost of imports, fuels inflation and erodes household purchasing power.
The currency is becoming the clearest market signal of how much pressure Iran’s economy is under.