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Iran Currency Down: iran The national currency Riyal reached a record low on Wednesday, where its value became about 18 lakh Riyal against one US dollar. This decline has come at a time when the ceasefire is in force after the war with America and Israel, but the situation is still not completely stable. If 18 lakh riyals are converted into Indian currency then it becomes only Rs 135.45.

The war began on February 28 and the rial was in a stable condition in the initial weeks, as trade and imports into the country had significantly reduced during that period. However, the Riyal started falling two days ago and on Wednesday it reached its lowest level ever.

What will happen if Iranian Rial falls?

Experts believe that this fall of Riyal will further increase inflation, because many essential goods in Iran – such as food items, medicines, electronics and raw materials – are affected by the price of dollar. Even though the war has stopped for the time being, the ongoing naval blockade by America has kept pressure on Iran’s economy. Due to this blockade, oil exports, which are the main source of income and foreign exchange for the government, have been badly affected.

In the last two weeks, prices of essential commodities like milk, curd, edible oil, bread, rice, cheese and detergent have increased in Iran. This increase points to broader inflationary pressures in the economy, driven by post-war uncertainty, supply disruptions, rising transportation and production costs, and the impact of the US blockade. Experts say that the latest fall in the Riyal will put further pressure on the prices of import- goods, packaging and raw materials in the coming days.

Indian Rupee vs Iranian Rial?

The position of Iranian Rial is also very weak compared to the Indian currency. One Indian Rupee is equal to approximately 13,807 Iranian Rials, while one US Dollar is worth approximately 95.27 Indian Rupees. After the start of the Middle East crisis, the Indian rupee has also been affected, but not that much.

What was the price of Iranian Rial earlier?

This latest fall has come at a time when there were protests across the country due to the weakening of the currency a few months ago. In January, the value of the rial fell from 1.4 million to 1.6 million per dollar in less than a week, deepening people’s concerns about rising inflation and the economic future.

Iran’s economy is already struggling with decades of sanctions, persistent inflation and a widening gap between official and open market exchange rates. The recent war has put additional pressure on businesses, common people and government finances.