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Iran Rial Plunges Past 1.8 Million Per Dollar as Ceasefire Fails to Stabilize Economy
Economy
Published on 29 April 2026
A fragile ceasefire cannot halt the currency freefall
Iran’s rial has plunged to a record low, crossing 1.8 million per US dollar as the economy struggles to recover. The slide is unfolding alongside a fragile ceasefire involving Tehran, Washington, and Tel Aviv, which has so far failed to restore stability after recent conflict and a naval blockade. Traders and households face growing pressure as prices and confidence worsen.
- Rial hits a record low above 1.8 million per US dollar
- Currency crash coincides with a struggling ceasefire among major players
- Recent conflict and naval blockade keep economic conditions tense
- Stabilization remains elusive as market confidence deteriorates
Read the full story at Republic
This summarization was done by Beige for a story published on 
Republic