The Iranian rial has fallen to a record low of approximately 2.25 million to the dollar in the informal market, marking a 60% depreciation since the U.S.-Israel military conflict erupted in late February 2026. The U.S. naval blockade reinstated in July has nearly crippled Iran's oil exports, while sanctions have disconnected the country's financial system from SWIFT, prompting some citizens to seek alternative value transfer mechanisms. The official rate stands at 1.5 million, creating a 40-45% gap with the free market rate.
The Iranian rial has crashed to a record low against the U.S. dollar in the informal market, trading at roughly 2.25 million to the dollar, according to a report by CryptoBriefing. Since the U.S.-Israel military conflict broke out in late February 2026, the currency has shed about 60% of its value.
And the pressure has only piled up. The U.S. naval blockade, brought back in July, has all but shut down Iran's oil export capacity, making the economic strain worse. Sanctions have cut Iran's financial system off from the SWIFT network, pushing some residents to look for other ways to move value. The Central Bank of Iran is still holding the official rate at about 1.5 million to the dollar, leaving a 40% to 45% gap with the parallel market rate.
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