[Iranian Rial Exchange Rate Drops to Record Low] According to a report by Golden Finance, tracking website Bonbast shows that the Iranian Rial exchange rate against the US dollar dropped to 2.4 million on Monday. Both Tehran and Washington previously stated that they would not make concessions on conditions for ending the conflict and reopening the Strait of Hormuz. Data indicates that since last Saturday, when U.S. President Trump rejected Iran's latest proposal, the Rial has depreciated by 2.3%.