The Iranian rial tumbled to a record-breaking low against the US dollar just hours before US Treasury Secretary Bessent unveiled new measures aimed at economically isolating the nation.

When the Iranian foreign exchange market opened on the 24th, the rial hit a historic trough, with the exchange rate briefly reaching 2.02 million rials per US dollar. This starkly contrasts with the official rate of 1.5 million rials per dollar published by the Central Bank of Iran.

In a press conference held on the afternoon of the 24th local time, Bessent declared that the United States would initiate a fresh round of sanctions designed to intensify economic pressure and further isolate Iran on the global stage.

Reacting to this latest escalation from Washington, Iranian President Pezeshkian stated on the same day, according to the presidential office, that the US "must change its rhetoric and approach when dealing with Iran." He added that relying on coercion and bullying would only render the situation more complex.

Concurrently, Mohber, a senior advisor to Iran's Supreme Leader, warned that Tehran's response to American threats would be more resolute than ever before.

This latest plunge surpasses the previous record set on April 29th of this year, when the rial had already weakened to 1.81 million against the dollar.