An Iranian woman walks past a mural based on the U.S. flag, on the wall of former U.S. embassy in Tehran, Iran, Oct. 22, 2024.Photo by Vahid Salemi/AP

Iran’s currency falls to all-time low as Donald Trump on the verge of reclaiming the U.S. presidency

'Things that are not in our favour will be worse. Our economy and social situation will surely get worse. I feel the country is going to blow up,' said one student in Tehran

by · National Post

TEHRAN, Iran — Iran’s currency fell on Wednesday to an all-time low as former President Donald Trump was on the verge of clinching the U.S. presidency again, signaling new challenges ahead for Tehran as it remains locked in the wars raging in the Middle East.

The rial traded at 703,000 rials to the dollar, traders in Tehran said. The rate could still change throughout the day. Iran’s Central Bank could flood the market with more hard currencies as an attempt to improve the rate, as it has done in the past.

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