Recent market data and economic reports confirm that the Iranian rial has fallen to historic lows against the U.S. dollar, with unofficial (open-market) rates recently trading well above ~1.4 million rials per $1 USD in parallel markets. This reflects a long-term depreciation trend driven by sanctions, high inflation, and economic pressures. ïżœ
The Economic Times +1
đ± What âbillionâ really means in this context
If $735 were converted at ~1.4 million IRR per USD, the result would be over 1 billion rials. But that doesnât mean someone suddenly has large real wealth â itâs a nominal figure caused by the currencyâs weakness. The rial has lost much of its value over time, so large numbers in local currency units donât reflect real purchasing power. ïżœ
Wikipedia
đ Why the rial has fallen so much
The rial has lost most of its value against the dollar over decades, especially amid renewed sanctions, limited oil revenue, and economic isolation. ïżœ
The Economic Times
Official statistics and independent estimates show inflation in Iran has been very high, contributing to the currencyâs depreciation. ïżœ
Wikipedia
The gap between official exchange rates and free-market (parallel) rates has widened, reflecting real economic pressures faced by ordinary people. ïżœ
The Economic Times
đ What this means for everyday Iranians
âïž High inflation erodes purchasing power â Even if local currency amounts look large, they buy much less in real terms than before. ïżœ
âïž Essentials cost more â Food prices, fuel, medicine, and other basics have risen sharply, straining household budgets. ïżœ
âïž Economic hardship has sparked unrest â In late 2025, protests began in major cities as traders and citizens reacted to rising prices and currency instability. ïżœ
Wikipedia
The Economic Times
Eurasia Review
đĄ Bottom line
Saying someone is a âbillionaire in rialsâ because a few hundred dollars converts into a billion rials is technically correct only in local currency units â but itâs not a meaningful measure of wealth. The widespread real challenge is that the rialâs value and buying power have collapsed, making it harder for ordinary people to meet everyday needs.$BTC $XRP $USDC
