US sanctions under Operation Economic Outcast, including mid-October designations targeting Iranian banks, exchange houses, and shadow-fleet vessels, combined with a naval blockade that has halted crude exports through the Strait of Hormuz since September, continue to constrain Iran's foreign currency inflows and sustain depreciation pressure on the rial. Street rates have settled near 2.73 million IRR per USD after recent gains, reflecting reduced oil revenue and broader economic contraction signals. With only days remaining until end-of-October resolution, the narrow gap between the 2.7-2.8 million and 2.8 million-plus brackets captures trader consensus on limited scope for sharp further weakening absent new escalation or diplomatic shifts, while any unexpected sanctions relief or export resumption could quickly alter positioning.