Iranian Rial Crashes 30% to Historic Low of 1.75 Million per Dollar After Strikes

The Iranian rial collapsed to approximately 1,749,500 rials per U.S. dollar on the open market following the outbreak of U.S.-Israeli strikes, a roughly 30% drop from the 1,350,000 rate at the start of 2026. The sharp depreciation reflects panic among Iranians as the economy faces a new wave of military conflict layered on already punishing sanctions; the rial had already lost approximately 45% of its value in 2025. Exact time of the exchange rate nadir is not confirmed; it emerged during the first day of strikes on February 28.