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Middle East

Currency tracker lists U.S. dollar at 2,639,000 Iranian rials

By The Likely · Updated Oct 3, 7:00 AM ET · Drawn from 5 sources · Written by AI, checked against sources

An open-market tracker listed the U.S. dollar at 2,639,000 Iranian rials on October 2, 2026. On September 29, the currency had fallen to a record low of more than 2.5 million rials per dollar.

Why it mattersA plunging currency intensifies economic pressure on Iran amid sanctions and an ongoing U.S. naval blockade.

How we got here

  1. U.S. and Israeli strikes on Iran began, sparking a regional conflict. Gov
  2. The Iranian rial reached 2.2 million per U.S. dollar. Usnews
  3. Trump rejected Iran’s proposal for a seven-day plan to reopen the Strait of Hormuz and address the conflict. Reuters
  4. U.S. and Iranian officials spoke separately with mediators to pursue renewed efforts to end the war. Reuters
  5. The rial fell to a new record low, with Tehran traders exchanging more than 2.5 million rials per U.S. dollar; the Treasury also announced sanctions on 10 individuals and entities over Iranian military procurement. Usnews, Gov
  6. An open-market tracker listed the U.S. dollar at 2,639,000 Iranian rials. Alanchand

What's likely next

  1. Reuters reported on September 28 that Trump expected U.S. negotiators to engage in further talks that week. The reporting reviewed here did not identify a later confirmed meeting date.

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