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U.S. Blockade Drives Iran Rial to Record Low

4/30/2026

47 5 Full Breakdown

Summary

Story summary

U.S. officials say the naval blockade is a factor behind Iran’s record-low rial.
Iran’s rial fell to 1.8 million per U.S. dollar on 29 April 2026, the lowest on record.
A ceasefire between the United States and Iran began on 8 April while blockade remains.
Iran’s central bank recorded 65.8 % year-on-year inflation for 20 March to 20 April.
Layoffs have hit 500 workers at Pinak in Rasht and 700 at Borujerd Textile Factory since late March.

History

Historical Context

In May 2018 the United States left the JCPOA, sending the rial to about 42,000 per dollar and driving inflation up roughly 30 % that year. The episode mirrors the 2012 parliamentary push—blocked by Supreme Leader Khamenei—to question President Ahmadinejad after the EU oil embargo cut oil sales by 40 %, underscoring how renewed sanctions repeatedly destabilize Iran’s economy and regional markets.

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Story summary

U.S. officials say the naval blockade is a factor behind Iran’s record-low rial.
Iran’s rial fell to 1.8 million per U.S. dollar on 29 April 2026, the lowest on record.
A ceasefire between the United States and Iran began on 8 April while blockade remains.
Iran’s central bank recorded 65.8 % year-on-year inflation for 20 March to 20 April.
Layoffs have hit 500 workers at Pinak in Rasht and 700 at Borujerd Textile Factory since late March.

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