Iran’s currency fell to a new record low on Sunday, underscoring the pressure on households already hit by soaring prices and a weakening economy. The rial’s slide reflects a broader crisis that has left wages, savings and basic goods increasingly out of reach for many Iranians.

Reuters reported that inflation has climbed above 45%, with renewed sanctions on oil exports adding fresh strain to the government’s finances and foreign exchange reserves. The combined effect is pushing up import costs and worsening instability in the currency market.

For ordinary Iranians, the impact is immediate: higher food prices, rising rent, and shrinking purchasing power. The economic strain is deepening public frustration at a time when many families are struggling to keep up with daily expenses.

The latest drop adds to long-running concerns about Iran’s economic management and the consequences of sanctions, which continue to hit civilians hardest. With no quick fix in sight, the currency crisis is likely to keep eroding living standards across the country.

Economic crisis

Iran’s rial falls to a record low as inflation tops 45%