Iranian rial trades at 1.80 million to dollar after two months of sanctions, Mario Nawfal notes

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Parshwa Turakhiya

29.04.2026

Iranian rial trades at 1.80 million to dollar after two months of sanctions, Mario Nawfal notes — Iranian rial reaches record low against dollar

Mario Nawfal, founder & CEO at IBC Group, reports that the Iranian rial has declined sharply against the dollar, reaching a record low of 1.80 million rials on the black market.

According to Nawfal, the exchange rate stood at 1.70 million rials when the war began in late February. Following two months of blockade and sanctions, the rial's value has continued to deteriorate rapidly.

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Nawfal has documented volatility in other markets in recent months. In March, he reported that hedge funds sold global stocks at the fastest rate in a decade. Nawfal has also highlighted projections that Germany’s share of global GDP could fall to 4 percent by 2030.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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