Hannah Sylvestre
Iran’s Supreme Leader faces a number of challenges in the wake of the devastating 12-day war with Israel, and the perennial weakness of Iran’s economy is chief among them. Economic mismanagement, corruption, and strict Western sanctions have sapped output, weakened the currency and contributed to high inflation for years. But the recent spike in tensions with the US and Israel has accelerated the collapse of the Iranian rial, which has halved in value against the dollar since the end of last year. Here is a look at how the Iranian Rial has performed against the greenback since 2022.