Bessent reports Iranian rial crashed through 2 million to the dollar as central bank cites revenue collapse
“Iran’s currency keeps plummeting: today, crashing through the exchange rate of 2 million rials to the U.S. dollar. Over the weekend, Iran's Central Bank Governor Abdolnaser Hemmati said that the simultaneous drop in Iran’s oil revenues, tax income, and social security https://t.co/ZjOczci1Xi”
Bessent recalls warning Iranians to exit rial in March 2025 when it was 887,500 to dollar with 35% inflation
“On March 6, 2025, at the Economic Club of New York, I said that if I were an Iranian, I would get my money out of the rial. At the time, "official inflation" was 35%, the currency had depreciated by 60%, and the exchange rate was 887,500 rials to the U.S. dollar. https://t.co/Ix5hv9ZbFY”