Iranian rial hits record low as sanctions tighten and UAE cuts trade
TL;DR Summary
Iran’s rial plunged to a record low—more than 2 million per US dollar—as the US readies additional sanctions, while the UAE suspends trade with Iran. Iranians hedge against further losses by buying dollars, and officials warn that escalating measures could have consequences amid broader regional tensions and mounting economic strain.
- Iran’s rial currency hits new record low as US prepares to announce more sanctions AP News
- Scott Bessent: an economic D-Day is coming for Iran Financial Times
- U.S. to Unveil Broader Campaign to Cripple Iran’s Economy The New York Times
- Iran War Updates: U.S. to unveil new sanctions Trump said would hit Iran with an "economic D-Day" CBS News
- US-Iran war latest: Iran’s currency drops to record low against dollar as US set to unveil ‘economic D-Day’ CNN
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