The Iranian rial’s latest collapse reflects a convergence of long-standing pressures: prolonged sanctions,
persistently high inflation, weak market confidence, and limited access to foreign currency. While exchange-rate milestones grab headlines, the deeper impact is felt in everyday life — rising import costs, shrinking purchasing power, and eroding household savings.
Currency depreciation at this scale isn’t just a financial story; it’s a macro-stability warning. When confidence breaks, capital seeks safety elsewhere, accelerating the cycle and narrowing policy options.
The key question now isn’t whether the rial can recover short-term, but whether structural reforms, credible policy signals, or external relief can restore trust in the medium term. Without that, volatility remains the baseline.
