Updated

Updated · Al Jazeera English · Jul 21

Iran's Rial Sinks Past 1.9 Million per Dollar as 90% Inflation Deepens Wartime Hardship

Updated

Updated · Al Jazeera English · Jul 21

Iran's Rial Sinks Past 1.9 Million per Dollar as 90% Inflation Deepens Wartime Hardship

Q: Iran's new leader is unseen since the strike. Who is now commanding the nation in this devastating war?

Iran is formally led by Supreme Leader **Mojtaba Khamenei**, but in practice the war effort appears to be run by a **collective command centered on parliament speaker Mohammad Bagher Ghalibaf and senior Islamic Revolutionary Guard Corps commanders**. The reporting and expert assessments in the material point to Mojtaba Khamenei being alive and still the constitutional head of state after succeeding his father, Ali Khamenei, in March 2026. But he has been largely unseen since the strike that reportedly wounded him, and U.S. intelligence assessments cited in the background say he is only intermittently accessible and removed from day-to-day decisions. That has left operational control dispersed. Ghalibaf has emerged as one of the most visible and influential figures, especially in negotiations and broader state coordination. At the same time, the **IRGC** is widely described as handling much of the daily wartime decision-making, with commanders such as **Ahmad Vahidi** seen as especially influential. President **Masoud Pezeshkian** and Foreign Minister **Abbas Araghchi** remain important public and diplomatic faces of the state, but the balance of evidence suggests they are not the main wartime commanders. So the clearest answer is that **Mojtaba Khamenei is the formal leader, but Iran is effectively being commanded by a wartime power center made up of Ghalibaf and the IRGC leadership, with other senior officials supporting that structure**.

3 articles · Updated · Al Jazeera English · Jul 21

More than 1.9 million rials now buy $1, marking a record low as households face collapsing purchasing power; one Tehran pensioner said her 180 million-rial monthly payment no longer covers essentials.
Nearly 90% inflation last month—134% for food—has driven sharp jumps in daily costs, with bread prices nearly doubled, rents often rising about 50% despite a 27% Tehran cap, and fuel prices expected to climb again.
War damage, sanctions and cyberattack-related banking disruptions have compounded the squeeze, leaving businesses short of credit, workers with patchy unemployment coverage, and blackouts causing water shortages during 40C summer heat.
Authorities have also tightened domestic controls, temporarily shutting cafes and shops in central Tehran and deleting football commentator Adel Ferdosipour's Football 360 app after criticism of Iran's national team.
The economic slide follows two wars in less than a year and a three-month internet shutdown, with damage from US and Israeli strikes already estimated in the hundreds of billions of dollars.