Iran’s currency has slumped to another record low, reflecting mounting economic pressure on ordinary people as inflation accelerates and sanctions continue to squeeze the country’s finances. On Friday, the rial traded above 620,000 to the US dollar in informal markets, extending a long decline that has eroded household savings and purchasing power.

The sharp drop comes as year-on-year inflation has climbed above 50%, adding to the burden on families already facing higher costs for food, medicine, housing and basic imports. The currency slide has also renewed concerns about the government’s ability to stabilize prices or restore confidence in a battered economy.

Reuters reported that oil exports remain constrained by renewed sanctions, limiting a key source of foreign currency revenue. With fewer dollars entering the system and demand for hard currency rising, pressure on the rial has intensified further.

For many Iranians, the result is a deeper cost-of-living crisis with no clear relief in sight. The latest downturn underscores how sanctions, inflation and weak economic management continue to shape daily life across the country.