29.09.2026, 20:48
The currency of a BRICS country has collapsed
Source: OREANDA-NEWS
OREANDA-NEWS On Tuesday, September 29, the Iranian rial fell to another record low. This was reported by the Associated Press (AP).
The exchange rate of this currency dropped to 2.5 million rials per one US dollar. According to the publication, this clearly demonstrated how the war in the Middle East is steadily undermining the Iranian economy. The new collapse occurred just 27 days after the rial reached its previous record low on September 2, at 2.2 million per dollar.
In early September, it was reported that the Iranian authorities announced a doubling of the price of gasoline that is not eligible for subsidies, because the country’s budget is suffering from a lack of funds. As a result, starting from September 8, a litre of gasoline at the third tariff cost 100,000 rials (about 4–5 US cents, i.e. about 4 rubles). Prior to that, the price was 50,000 rials per litre.
In late March, Iran issued a banknote with a face value of 10 million rials, which became the largest in the country’s history.
The exchange rate of this currency dropped to 2.5 million rials per one US dollar. According to the publication, this clearly demonstrated how the war in the Middle East is steadily undermining the Iranian economy. The new collapse occurred just 27 days after the rial reached its previous record low on September 2, at 2.2 million per dollar.
In early September, it was reported that the Iranian authorities announced a doubling of the price of gasoline that is not eligible for subsidies, because the country’s budget is suffering from a lack of funds. As a result, starting from September 8, a litre of gasoline at the third tariff cost 100,000 rials (about 4–5 US cents, i.e. about 4 rubles). Prior to that, the price was 50,000 rials per litre.
In late March, Iran issued a banknote with a face value of 10 million rials, which became the largest in the country’s history.
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