China · Iran · Strait of Hormuz · Fortune Technology
Iran’s currency is getting obliterated as the regime is about to run out of oil to sell and can’t even get its money from
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With Iran’s economy in free fall, the country’s currency is getting dragged down too and continues to find new depths with the regime facing a major cash crunch soon.
Key facts
- It was near 1.5 million rials to the greenback at the start of this year and was trading at around 920,000 rials in August 2025—meaning the currency has plunged about 170% since then
- On Tuesday, the currency fell to a new record low among traders in Tehran, hitting more than 2.5 million rials to the U.S. dollar
- In fact, Iran didn’t load any oil last month at its export terminals, marking the first time that’s happened since the 1979 Islamic revolution, according to Homayoun Falakshahi, head of crude oil
- That stance was echoed by Secretary of State Marco Rubio, who told Fox News on Monday that Iran was heading toward an economic “cataclysm
Summary
The U.S. naval blockade has sent Iran’s oil exports to virtually zero, while its Persian Gulf neighbors have boosted their own shipments under the protection of the U.S. military, which is eroding Tehran’s control over the Strait of Hormuz. In fact, Iran didn’t load any oil last month at its export terminals, marking the first time that’s happened since the 1979 Islamic revolution, according to Homayoun Falakshahi, head of crude oil analysis at Kpler. On top of that, Iran can’t import goods by sea, including fuel, and land-based routes are clogged up. A prior currency collapse late last year trigged widespread protests that the regime put down with a brutal crackdown early this year.