"Iran's national currency, the rial, has completely collapsed against the U.S. dollar as the country's economic crisis worsens. The value of one rial is now worth $0.00 right now. On the open market, one U.S. dollar now trades for roughly 1.4 million rials, a collapse that has erased decades of purchasing power and fueled widespread unrest. The currency's plunge isn't new, but the pace of decline in 2025 and early 2026 has been dramatic."
"Inflation is soaring. Prices on food, medicine and basic goods have jumped sharply, forcing many families to spend a larger share of income just to survive. The official inflation rate climbed above 42% late last year, though actual costs for staples may be higher at this point. The economic strain has spilled into the streets. Bazaar merchants and students have taken part in protests across cities from Tehran to Isfahan and Shiraz, condemning both economic mismanagement and political repression."
Iran's rial has effectively collapsed, trading on the open market at roughly 1.4 million rials per U.S. dollar and erasing decades of purchasing power. Sanctions, shrinking oil revenues, and political instability accelerated the decline through 2025 and early 2026. Inflation is soaring, with official rates above 42% and staple prices likely higher, forcing families to spend more income on food, medicine, and basics. Economic strain has sparked protests by bazaar merchants, students, and traditional government supporters across Tehran, Isfahan, and Shiraz. Authorities have imposed telecom blackouts and jammed satellite services, while Bitcoin-focused offline apps like Bitchat and Noghteha are gaining popularity.
Read at Bitcoin Magazine
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