Iran's rial weakened to approximately IRR1.52mn per US dollar on the unofficial market on January 27, marking a fresh record low for the currency, according to Iranian exchange rate data seen by IntelliNews.

The latest exchange rate collapse of the Iranian government comes after weeks of protests where more than 3,100 were killed, according to official Iranian government figures, which were initially kicked off by the previous round of rial devaluations at the end of December and the beginning of January. 

The rial's sell rate stood at 1,518,500 per dollar, with a buy rate of 1,517,500. The euro traded at IRR1.805mn for selling and IRR1.803mn for buying, whilst the British pound reached IRR2.079mn sell and IRR2.077mn buy.

Other major currencies showed the Swiss franc at IRR1,956,500 sell and IRR1,954,500 buy, the Canadian dollar at IRR1,107,500 sell and IRR1,106,500 buy, and the Australian dollar at IRR1,051,500 sell and IRR1,050,500 buy. Regional currencies included the UAE dirham at IRR413,200 sell and IRR412,700 buy, and the Turkish lira at IRR43,500 sell and IRR43,450 buy. The Russian rouble traded at IRR19,850 sell and IRR19,800 buy.

Asian currencies showed the Singapore dollar at IRR1,198,500 sell and IRR1,197,500 buy, the Hong Kong dollar at IRR194,500 sell and IRR193,500 buy, and the Thai baht at IRR48,900 sell and IRR48,850 buy.

Gold prices in Iran reached IRR181,077,150 per gram on January 27, whilst the international gold price stood at $5,087.06 per ounce, reflecting the precious metal's continued surge to record highs amid geopolitical tensions.

The currency weakness coincides with annual inflation reaching 44.6%, while food prices are up 89.9% year on year. Monthly inflation stood at 7.9% in December 2025-January 2026.

Earlier on January 26, President Donald Trump said Iran is seeking negotiations as significant US military assets arrive in the region, though White House officials indicated a strike on regime targets remains under consideration, Axios reported.

"We have a big armada next to Iran. Bigger than Venezuela," Trump told Axios in an exclusive interview, referring to his decision to dispatch the USS Abraham Lincoln carrier strike group, which is currently off the coast of Oman, 800km south of Iran’s coast, according to flight tracking data seen by IntelliNews on January 26.

Trump reportedly refused to tell details of the current military build-up but repeated previous claims that Iran wants to make a deal.  

"They want to make a deal. I know so. They called on numerous occasions. They want to talk," he stated.