Trump: Iran is collapsing completely

“Reuters”: Washington prepares to expand secondary sanctions on Tehran

Iranian rial plunges to record low against the US dollar

US President Donald Trump posted on his “Truth Social” platform today that “Iran is completely collapsing,” as Washington readies to broaden economic sanctions on Tehran, coinciding with the Iranian rial hitting an all-time low against the US dollar.

Reuters cited a source saying the US Treasury Department plans to impose secondary sanctions on activities in several Iranian sectors, and will expand sanctions to cover countries and entities that engage in trade with Iran.

In response, the Iranian rial fell today, Monday, to its lowest level ever against the dollar, amid mounting pressure on the Iranian economy and US preparations to announce new measures aimed at further isolating Tehran economically, about six months after the outbreak of war.

According to data cited by Bloomberg from Bonbast, a website specializing in tracking exchange rates, the US dollar traded at around 2.04 million rials in Tehran’s unofficial market, causing the rial to lose about 6.7% of its value since Trump’s announcement last week of what he described as a “crushing economic operation” against Iran.