Iran Rial Falls to Record Low After Trump Victory

Following Donald Trump's re-election as U.S. President, Iran's currency, the rial, plummeted to an all-time low of 703,000 rials to the dollar, raising concerns over the nation's economic stability amid ongoing regional tensions. Experts attribute the decline to high inflation, budget deficits, and the impact of U.S.-led sanctions, exacerbated by fears of Trump's return to a 'maximum pressure' policy that could result in harsher sanctions. Iranian officials have sought to downplay the election's impact, asserting that U.S. policies toward Iran remain consistent regardless of the presidency. However, sentiments among Iranians reflect anxiety, with many anticipating a worsening economic situation and potential escalations in conflict, particularly with Israel. The Iranian government has signaled a commitment to increase military spending, further straining economic resources. As the rial continues to depreciate, ordinary citizens are increasingly converting savings into dollars or gold, highlighting widespread distrust in the national currency.