Iranian Rial Hits Record Low as the U.S. Unveils New Sanctions

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AI Fusion Summary

The Iranian rial has plummeted to a record low, trading at approximately 2.02 million per US dollar. This decline follows new sanctions unveiled by the U.S., with Treasury Secretary Scott Bessent warning of an economic D-Day for Iran. Amidst nearly six months of war, citizens in Tehran are rushing to exchange markets to acquire US bills, attempting to cash out before the local currency experiences further devaluation and loses more of its remaining value.
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