Iranian seek to protect their savings from potential military escalation by buying hard currency
Iran's rial sinks to record low against US dollar
The breach of the 1,500,000 rial mark represents a psychological and economic "breaking point" for the Iranian market as the US aircraft carrier’s arrival in the Middle East has fueled a "panic-buying" spree of hard currency.
Tuesday 27/01/2026
Iranian seek to protect their savings from potential military escalation by buying hard currency
DUBAI - Iran's currency dropped to a record low of 1,500,000 rials to the US dollar on Tuesday, according to several Iranian currency tracking websites, weeks after protests sparked by the rial's dwindling value rocked the country.
The breach of the 1,500,000 rial mark represents a psychological and economic "breaking point" for the Iranian market.
The currency has lost approximately 25% of its value in less than two months, falling from roughly 1.12 million rials per dollar in mid-December 2025.
This latest dip follows a series of nationwide protests late December triggered by hyperinflation and a government decision to end certain food and fuel subsidies.
Regional traders suggest that the arrival of the USS Abraham Lincoln strike group in the Middle East this week has fueled a "panic-buying" spree of hard currency, as citizens seek to protect their savings from potential military escalation.
The near-total internet blackout maintained by the government is estimated to be costing the Iranian digital economy nearly $34 million (50 trillion rials) daily, further draining state resources.