Iran Rial Plunges Under Tight Sanctions

Iran’s rial fell to about 2.02 million per dollar on informal markets, with the official rate around 1.5 million. Sanctions and wartime pressure drive a currency collapse, intensifying inflation and rising import costs. Washington’s “economic D-Day” sanctions campaign threatens further isolation and hardship for ordinary Iranians, as Tehran braces for intensified sanctions on oil exports and access to international finance. Tehran says it will resist pressure and blames the aggressor for the crisis, while seeking support from partners like China; oil revenues have virtually ceased and regional financial ties frayed. Separately, ABHI Bank in Pakistan reported a record half-year profit of Rs1.502 billion, signaling contrast to Iran’s macro headwinds. The overall mood remains one of severe economic distress amid sanctions and war.