Kathmandu. Iran’s currency, the riyal, fell to an all-time low on Tuesday. It will cost 25 million riyals to buy one US dollar.
Before the war started on February 27, the value of one dollar was about 1.7 million riyals. This means that Iran’s currency has depreciated by almost 50 percent in just seven months.
The official rate of Iran’s central bank is about 16.5 million riyals per dollar. However, ordinary people receive dollars at market rates.
The main reasons for the decline of the riyal against the dollar are war, US sanctions, and US sanctions on Iranian oil. This has affected Iran’s income and the availability of dollars. As a result, the riyal is continuously weakening. – Agency
