House Armed Services

Iran’s national rial currency has hit a record low of 1.8 to the dollar as a shaky ceasefire with the U.S. and Israel holds. The rial had been stable for weeks during the war that began Feb. 28, partly due to limited trading and imports. Experts warn the fall of the rial is likely to further fuel inflation. Many imported goods, from food and medicine to electronics and raw materials, are affected by the dollar rate. The war is now in a ceasefire, but a U.S. naval blockade has continued to increase pressure on Iran’s already battered economy.