Iran's Rial Crashes to Record Low Amid Ceasefire

0:00It's April 29th, from your city to your ears. This is Canada News today, powered by AI, I'm Cory with the story. He ran's national currency, the Rial, just crashed to a record low of 1.8 million Rial's to $1 this Wednesday, even as a fragile, ceasefire with the US and Israel, somehow hold steady. The war kicked off on February 28th and dragged on for weeks, but the Rial states surprisingly stable back then because trading in imports basically ground to a halt. That changed two days ago when it started plummeting, and now experts are sounding alarms that this drop will crank up inflation even more. Everyday stuff like food, medicine, electronics, and raw materials, all imported, get hit hard by the dollar rate, piling pain on households, and businesses already squeezed by decades of sanctions and sky-high prices. The ceasefire in place but a US blockade still choking off oil shipments and hard currency. Iran's economy faces tougher days ahead, unless.

1:01Tensions ease for real.