Iran's currency collapsed against major international currencies on June 15, with the rial losing over 12% of its value as military exchanges with Israel intensified and nuclear negotiations were cancelled.

The US dollar surged to IRR947,000, representing a 12.67% depreciation for the rial in a single trading session. The euro climbed to IRR1,094,300, marking a 12.49% rise, whilst the British pound strengthened to IRR1,283,700, up 12.41%.

The currency collapse coincided with Israeli strikes on Iranian energy infrastructure, including Tehran's refinery and facilities in Asaluyeh. Foreign Minister Abbas Araghchi confirmed Iran had expanded its retaliatory targeting to include economic objectives after the attacks.

"Because yesterday the Israeli regime entered economic targets and targeted Tehran refinery and some areas in Asaluyeh, we also entered economic targets from last night," Araghchi told foreign ambassadors in Tehran, Etemad Online reported on June 15.

Regional currencies performed strongly against the rial, with the UAE dirham reaching IRR262,100, marking the highest percentage gain of 13.41%. The Turkish lira rose to IRR24,050, up 12.65%.

The Swiss franc reached IRR1,165,600, an increase of 12.65%. North American currencies strengthened substantially, with the Canadian dollar reaching IRR697,000 and the Singapore dollar at IRR738,700.

Iran-US nuclear negotiations scheduled for Muscat were cancelled following the Israeli strikes. Araghchi revealed Iran had prepared a counter-proposal for the sixth round of talks that "could have opened the way for an agreement."