{
  "id": 2979498,
  "title": "Iran’s rial currency hits new record low as US prepares to announce more sanctions",
  "url": "https://urgent.news/2026/08/24/irans-rial-currency-hits-new-record-low-as-us-prepares-to-announce",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-24T08:28:22.000Z",
  "source": {
    "name": "Winnipeg Free Press",
    "slug": "winnipeg-free-press",
    "url": "https://www.winnipegfreepress.com/business/2026/08/24/irans-rial-currency-hits-new-record-low-as-us-prepares-to-announce-more-sanctions"
  },
  "original_language": "en",
  "account": "Iran’s rial currency experienced a record low on Monday as the United States prepared to announce more sanctions, which the regime described as an \"economic D-Day.\" These new sanctions aimed to further pressure an economy already weakened by previous sanctions and a U.S. naval blockade. The Iranian rial plummeted to 2.02 million per U.S. dollar upon trading opening on informal currency markets, while the official Central Bank rate was around 1.5 million rial to the dollar. The informal rate is what most Iranians pay.\n\nThe rial had already been under pressure before the U.S. and Israel attacked Iran on February 28, with double-digit inflation and negative growth. However, the past six months of war have caused even greater damage to the economy. Despite U.S. President Donald Trump's inability to secure concessions from Iran, the country maintained control over shipping through the Strait of Hormuz, the critical waterway that allows a fifth of the world's traded oil to pass freely. Iran and Oman, the country opposite the strait, are reportedly nearing an agreement for joint management of the waterway, with ships entering the Persian Gulf through an Iranian-controlled route and exiting through a route controlled by Oman.\n\nU.S. Treasury Secretary Scott Bessent vowed to impose even stronger sanctions than those already in place, including secondary sanctions on countries that continue to engage in business with Iran. Bessent stated, \"President Trump decimated Iran’s economy to a point where the rial has never been weaker and inflation has rarely been higher.\" Iran's hard-line leader, Mohsen Rezaei, warned that any country supporting the new American economic measures would be seen as an \"act of war.\"",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 9,
    "also_reported_by": [
      {
        "outlet": "The Business Times - Companies & Markets",
        "title": "Oil falls as US prepares to unveil new Iran sanctions",
        "url": "https://urgent.news/2026/08/23/oil-falls-as-us-prepares-to-unveil-new-iran-sanctions",
        "published": "2026-08-23T23:41:12.000Z"
      },
      {
        "outlet": "CNBC World",
        "title": "U.S. to unveil 'greatest financial offensive' against Iran as Tehran threatens ship seizures",
        "url": "https://urgent.news/2026/08/24/u-s-to-unveil-greatest-financial-offensive-against-iran-as-tehran",
        "published": "2026-08-24T02:25:07.000Z"
      },
      {
        "outlet": "SABC News",
        "title": "Oil falls as US prepares to unveil new Iran sanctions",
        "url": "https://urgent.news/2026/08/24/oil-falls-as-us-prepares-to-unveil-new-iran-sanctions",
        "published": "2026-08-24T05:25:07.000Z"
      },
      {
        "outlet": "Investing.com",
        "title": "Global bonds freeze as U.S. prepares ’greatest financial offensive’ against Iran",
        "url": "https://urgent.news/2026/08/24/global-bonds-freeze-as-u-s-prepares-greatest-financial-offensive",
        "published": "2026-08-24T08:11:27.000Z"
      },
      {
        "outlet": "Associated Press",
        "title": "Iran’s rial currency hits new record low as US prepares to announce more sanctions",
        "url": "https://urgent.news/2026/08/24/irans-rial-currency-hits-new-record-low-as-us-prepares-to-announce-2984002",
        "published": "2026-08-24T08:53:01.000Z"
      },
      {
        "outlet": "ABC News (US)",
        "title": "Iran's rial currency hits new record low as US prepares to announce more sanctions",
        "url": "https://urgent.news/2026/08/24/irans-rial-currency-hits-new-record-low-as-us-prepares-to-announce-2992140",
        "published": "2026-08-24T09:34:48.000Z"
      },
      {
        "outlet": "The National Business",
        "title": "Iran's currency hits record low as US prepares to hit Tehran with economic offensive",
        "url": "https://urgent.news/2026/08/24/irans-currency-hits-record-low-as-us-prepares-to-hit-tehran-with",
        "published": "2026-08-24T09:49:17.000Z"
      },
      {
        "outlet": "NPR",
        "title": "Treasury Secretary Scott Bessent to unveil new economic sanctions on Iran",
        "url": "https://urgent.news/2026/08/24/treasury-secretary-scott-bessent-to-unveil-new-economic-sanctions-on",
        "published": "2026-08-24T12:26:00.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}