Foreign exchange markets in Iran saw a 9.37% drop in the rial's value against the dollar over seven days ending October 1. The currency lost an additional 4.53% in the final two days of that period, continuing a descent that has pushed the free-market exchange rate past 2.5 million rials per dollar. This depreciation has exacerbated a domestic crisis, with annual inflation reaching nearly 70% and food prices climbing 130% over one year.

US Treasury Secretary Scott Bessent linked the volatility to "Operation Economic Outcast," a campaign to restrict the regime's ability to fund nuclear weapons. The pressure has caused oil exports to plunge from 1.7 million barrels per day a year ago to about 260,000 barrels per day, while unemployment has exceeded 9%. In response, the hardline Kayhan newspaper urged President Masoud Pezeshkian to adopt a "wartime posture" and stop relying on US negotiations that have failed to stabilize the economy.