Iran's currency, the rial, hit an all-time low on Wednesday, trading at 703,000 rials to the dollar amidst the possibility of former President Donald Trump securing a second term in the U.S. presidency. This development poses new challenges for Tehran, especially in the midst of ongoing conflicts in the Middle East.
The Central Bank of Iran may intervene by injecting more hard currencies into the market to stabilize the exchange rate, a strategy it has employed in the past. The rial has been facing significant devaluation, causing concern among some residents of Tehran.
