Iranian currency further weakens amid ongoing conflict with US

Iranian currency further weakened against US dollar on Wednesday amid an ongoing conflict with Washington, according to semi-official ISNA news agency.

The US dollar increased by more than 230,000 rials over the past two days, reaching up to 1,811,000 rials in open market trading — marking an increase roughly between 14%–15%, the market tally showed.

Other major currencies, including the Euro, also recorded similar gains.

Last December, the Iranian rial sharply depreciated — from around 1.2 million to 1.44 million rials per US dollar — triggering widespread protests against the government. The demonstrations intensified in early January, and turned more violent on Jan. 8–9.

Iranian officials said 3,117 people were killed in the protests, while some human rights organizations have estimated the death toll at up to 7,000.

Later in February, the US and Israel initiated war aganist Iran, which was halted on April 8 under a Pakistan-mediated ceasefire.