{
  "id": 2994158,
  "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",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-24T09:49:17.000Z",
  "source": {
    "name": "The National Business",
    "slug": "the-national-business",
    "url": "https://www.thenationalnews.com/business/2026/08/24/irans-currency-hits-record-low-as-us-prepares-to-hit-tehran-with-economic-offensive/"
  },
  "original_language": "en",
  "account": "The Iranian rial experienced its lowest point against the US dollar as the United States prepares to impose severe economic sanctions on Tehran on Monday. The rial was trading at approximately 2.02 million to the dollar on the black market, compared to 1.53 million rials in early March when the war began. US Treasury Secretary Scott Bessent warned Iran of an \"economic D-Day,\" stating that the United States is entering the final phase of the conflict. He detailed in a Financial Times article that Washington is launching its most significant financial offensive against any adversary. Bessent is scheduled to deliver a press conference at 9pm UAE time.\n\nThe US President, Donald Trump, had previously cautioned that countries supporting Iran would face economic consequences, though he did not specify any nations. Since the outbreak of the war on February 28, Iran's currency has been under severe strain due to existing sanctions and declining exports. The country's central bank chief, Abdolnaser Hemmati, confirmed that Iran is not exporting any oil, adding that access to foreign exchange reserves has become increasingly difficult due to US restrictions. Hemmati stated that oil sales revenue has effectively fallen to zero. Hemmati revealed that he has spoken to foreign counterparts, who informed him about the diminished oil export revenue. He emphasized the reality of zero oil exports.\n\nIran is grappling with a multitude of economic challenges exacerbated by the war, including inflation, weakening currency, energy shortages, and sanctions, which have further damaged infrastructure and disrupted trade. The International Monetary Fund's July forecast predicts a 5.4% contraction for Iran's economy in 2025, with inflation projected at around 70% for that year.",
  "summary": "Iran’s currency, which has recently been in free fall, hit an all-time low against the dollar, as the US prepares to announce crushing economic measures against Tehran on Monday. The Iranian rial was trading at about 2.02 million to the US dollar on the parallel market on Monday, according to Bonbast.com, which monitors unofficial exchange rates. That compares with 1.53 million rials to a dollar…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 10,
    "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": "Winnipeg Free 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",
        "published": "2026-08-24T08:28:22.000Z"
      },
      {
        "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 UAE",
        "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-2995663",
        "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."
}