Iran’s Currency Crisis Deepens as War Batters Economy

Iran’s currency has fallen to a record low against the US dollar as the two-month-long conflict rattles the country’s sanctions-hit economy. Air strikes by the United States and Israel, launched at Iran on February 28, along with the American naval blockade on Iranian ports and vessels, have disrupted Tehran’s vital oil exports, hampered domestic production, and fueled inflation. Iran’s national currency, the rial, dropped to a new low of 1.81 million to the US dollar on April 29 before rebounding the next day. The rial has seen its value fall…