Foreign Relations

Trump Says Iran Is “Completely Collapsing” as Rial Hits Record Low

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Courtroom-sketch editorial illustration of a seated person's hands counting thick stacks of Iranian rial banknotes over dark trousers and pavement, drawn in warm ochre and slate-blue chalk and pastel strokes with cross-hatching on sepia newsprint.

President Donald Trump said Iran is “completely collapsing” in a Truth Social post Monday as the country's market rial opened at a record 2.02 million per U.S. dollar. Iran's official Central Bank rate stood near 1.5 million rials, while rice prices had risen about 60% since the war began, beef more than 150%, and the IMF forecast output contracting by over 5%. Washington is preparing expanded secondary sanctions designed to pressure countries to cut business ties with Iran or risk exclusion from the dollar system. Iran's Foreign Ministry warned cooperation with the measures would carry consequences and said Tehran's hands were not tied.

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