Iran's Economic Turmoil: Rial Hits Record Low Amidst Protests

Iran’s currency, the rial, plummeted to a new low of 1.5 million per USD amid widespread protests triggered by economic challenges and government mismanagement. Sanctions continue to affect the country, and the violent crackdown on protests has led to significant casualties, with over 6,126 deaths reported.

Iran's currency, the rial, set a new record low on Tuesday, dropping to 1.5 million against the US dollar as nationwide protests reveal the depth of the nation's economic troubles.

Exchange shops quoted this rate as Iran suffers under international sanctions, especially concerning its nuclear activities, compounded by government mismanagement.

The protests, ignited by the currency's collapse on December 28, have swept across Iran, encountering a harsh crackdown by theocratic authorities, which has only become apparent after over two weeks of internet blackouts. Activists report at least 6,126 deaths, fearing more casualties remain unrecorded.

(With inputs from agencies.)