The Iranian rial hasn’t hit zero, but it’s close enough to feel like it, with 1 IRR worth just 0.00000100298 dollars, a rate that captures the staggering erosion of Iranians’ purchasing power.
At this exchange rate, even figures in the millions of rials amount to only a few dollars, forcing households and businesses to grapple with distorted price tags and constant mental conversions. The rial’s slide reflects years of pressure from international sanctions, entrenched inflation, policy mismanagement, and recurring political unrest, all of which have sapped confidence in the currency and pushed people toward dollars, gold, and other perceived safe havens.
