The Iranian rial fell to a historic low on Tehran's free market on Sunday, with the dollar briefly touching 1.95 million rials before settling above 1.94 million — a 1.67 percent jump from the previous session. The euro also climbed, reaching 2.22 million rials.
The currency has lost roughly 43.7 percent of its value against the dollar since the start of 2026, when it traded near 1.35 million. The slide accelerated after U.S. and Israeli airstrikes in late February pushed the rate to 1.72 million, and nearly 10 percent has been wiped out since a ceasefire collapsed in early July. President Donald Trump reimposed a port blockade last week, and U.S. forces have struck bridges, railways, and airports across southern Iran.
Government estimates put war damage at $300 billion, while annual inflation surged to 88.6 percent in June, up from 52.6 percent last December.