Coverage dated September 29, 2026 to September 30, 2026
Iran's currency hits a new record low as war erodes the country's economic stability
Headline from Pittsburgh Post-Gazette
The Iranian economy has been under duress for years in the face of international sanctions. A U.S. naval blockade on Iranian oil and new sanctions imposed since the start of the war have sent it into freefall.
PBS NewsHour's own description from its feed. We collect headlines and these descriptions, not full articles; read the original reporting below.
Iran’s currency fell to a new record low on Tuesday, with traders in Tehran exchanging more than 2.5 million rials to the U.S. dollar. The latest decline came just 27 days after the rial hit its previous record of 2.2 million to the dollar on Sept. 2.
The Iranian economy has been under duress for years in the face of international sanctions. But a U.S. naval blockade on Iranian oil and new sanctions imposed since the start of the war have sent it into freefall.
A spokeswoman for the Iranian regime warned on Monday supply problems and wartime damage to Iran’s refineries could cause fuel supply problems in northern Iran during the winter. On Tuesday, the Islamic dictatorship's currency fell to a record low of 2.5 million rials to the U.S. dollar.
President Donald Trump said Tuesday that Iran is “doing very poorly” and will ultimately “give up,” as the regime’s currency plunged to another record low under intensifying U.S. economic pressure aimed at further isolating Tehran and cutting off its oil revenue.
