Iran’s long-simmering economic crisis has reached a critical point after the national currency plunged to a record low, pushing even essential goods beyond the reach of large sections of the population. The country is reeling from deep economic hardships after Israel launched a war in June that that saw the United States bomb nuclear sites in Iran and also the United Nations re-imposing the sanctions on the country over its atomic program. These series of events has sent Iran's rial currency into a free fall, now trading at over 1.4 million to $1. The rial has been falling as the Iranian economy has suffered from the impact of Western sanctions. As Iran battled a slump in its rial currency and high inflation, Iran's central bank chief, Mohammad Reza Farzi resigned in December.