Iran's Currency Hits Record Low As Us Moves To Unveil New Sanctions

TEHRAN, Aug 25 (NNN-Xinhua) -- Iran's currency plunged to a record low on the open market Monday, hours before the US announcement of a new wave of sanctions aimed at further isolating Tehran, reported Xinhua.

The rial fell to 2.02 million against the US dollar as trading opened on currency markets, while the official exchange rate set by Iran's Central Bank stood at around 1.5 million rials per dollar.

The currency, which was already under pressure before the joint US-Israeli attacks on Feb 28, has continued to hit new lows as nearly six months of conflict have placed further strain on Iran's economy.

US Treasury Secretary Scott Bessent on Monday warned of an "economic D-Day" for Iran, announcing what he described as "an economic onslaught against Iran's financial connections around the globe."

The new sanctions target five key sectors -- digital assets, technology, gold, aviation and shipping, according to the Treasury Department. 

--NNN-XINHUA