Iranian Rial hits record low as economic fallout from war takes hold - report

The Iranian rial has fallen to a record low amid worsening economic conditions driven by the fallout from an ongoing war. The currency depreciation coincides with soaring inflation reaching 128% and a severe fuel crisis that is degrading living standards throughout the country.

In response to the economic pressures, Iranian workers have initiated strikes. The compounding effects of the currency collapse, hyperinflation, and shortages highlight the severe domestic strain facing the nation as the wider economic consequences of the conflict take hold.