TEHRAN, Iran (AP) — Iran’s currency has hit a record low as Washington prepares to announce new sanctions. The U.S. has said the sanctions would add further pressure on an economy already battered by previous ones and an American naval blockade. The rial dropped to 2.02 million to the U.S. dolla r as trading opened on currency markets Monday (Aug. 24, 2026). Iran’s official Central Bank rate stood at around 1.5 million rial to the dollar, but the market rate is what most Iranians pay. The currency was already under pressure before the U.S. and Israel attacked Iran on Feb. 28, but has repeatedly hit new lows as nearly six months of war have taken an even greater toll. ...read more read less