Iran’s rial has fallen to a new record low of more than 2.2 million rials to the US dollar, as renewed military tensions and economic pressure continue to weigh on the Iranian currency.
The latest rate was reported on Wednesday, September 2, 2026, by websites tracking Iran’s free-market exchange rate.
The decline represents another sharp fall for the rial, which had only recently crossed the 2 million-rial-per-dollar threshold in late August.
On August 24, the currency was reported at about 2.02 million rials to $1 on the open market.
By Wednesday, the rate had moved above 2.2 million rials per dollar, meaning the currency has lost roughly 10 per cent in about a week.
The latest plunge comes amid renewed US-Iran military exchanges and continued sanctions and economic pressure on Tehran. The conflict and restrictions on Iran's oil exports have further strained the country's access to foreign currency.
The distinction between Iran's official exchange rate and its free-market rate is important. The figure of more than 2.2 million rials refers to the free market, where the rate reflects what many people actually pay for foreign currency.
The latest development marks another dramatic milestone in the prolonged decline of the Iranian currency and is likely to add further pressure to an economy already struggling with high inflation and rising living costs.
Benny News Hub will continue to monitor developments in the Iranian economy.
Source: Iran International
