U.S. President Donald Trump commented Monday on the escalating tensions between Iran and the United States, saying that “Iran is completely collapsing.”
Trump made the remarks in a post on his Truth Social platform, amid intensifying U.S. economic pressure on Iran.
The Iranian rial has fallen to a record low, surpassing 2 million rials per U.S. dollar on the open market, according to websites tracking currency movements.
The free-market rate differs from the official exchange rate, under which the rial is valued around 29% higher against the U.S. dollar.
The currency’s decline comes as the U.S. Treasury Department prepares to impose a new package of sanctions on Iran starting Monday, as part of measures Washington has described as an “economic D-Day,” amid a deepening economic crisis in the country.
The International Monetary Fund expects Iran’s economy to contract by more than 5% this year, while food-price inflation has exceeded 100% and unemployment continues to rise.
Source: CNN
