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Iran’s currency collapsed to an all-time low as the Trump administration prepared to announce punishing new sanctions.

Iran's Rial Currency Hits New Record Low As U.S. Prepares To Announce More Sanctions

The rial dropped to 2.02 million to the U.S. dollar as trading opened on informal currency markets.

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Iran is about to face punishing new US sanctions. For residents, the economic pain is nothing new.