Iran’s currency, the rial, plummeted to an all-time low on Wednesday, trading at 703,000 rials to the dollar, following Donald Trump’s victory in the U.S. presidential election. This significant decline, which later slightly recovered, signals new economic challenges for Tehran amid ongoing regional conflicts. The rial’s depreciation reflects the ongoing struggles of Iran’s economy, exacerbated by crippling international sanctions and the uncertainty surrounding U.S. foreign policy under Trump, who previously withdrew from the nuclear deal in 2018. As Iran grapples with U.S. financial dominance, it has called on BRICS nations to reduce their reliance on Western financial systems, warning of the risks posed by such dependence.

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