Iran’s currency, the rial, hit a record low of 703,000 to the dollar after Donald Trump won the U.S. presidency again, raising concerns about intensified sanctions. The rial slightly recovered to 696,150 later. Iran’s Central Bank has previously intervened to stabilize the currency. The economic situation remains dire, with the rial’s value plummeting from 32,000 to the dollar in 2015 to 584,000 in July 2023. Iran’s economy struggles under international sanctions linked to its nuclear program. President Masoud Pezeshkian aims to negotiate sanctions relief.