Iran's currency hits record low as war weighs on economy
The latest decline came just 27 days after the rial hit its previous record of 2.2 million to the dollar on 2 September. The currency has repeatedly reached new lows since the war began in February.
Iran's currency fell to a new record low today (29 September), with traders in Tehran exchanging more than 2.5 million rials to the US dollar.
The latest decline came just 27 days after the rial hit its previous record of 2.2 million to the dollar on 2 September. The currency has repeatedly reached new lows since the war began in February.
Meanwhile, Iran's top diplomat said indirect negotiations with the United States aimed at reopening the critical Strait of Hormuz have become "more serious", while the Iranian Revolutionary Guard Corps' chief spokesman, Gen Hossein Mohebbi, on Tuesday called on Americans to take to the streets and protest the conflict.
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Foreign Minister Abbas Araghchi told Iranian media late on Monday that the "current focus is solely on the Strait of Hormuz". Araghchi made the comments shortly before departing New York — where he attended last week's gathering of world leaders at the UN General Assembly — and after meeting with Pakistani and Qatari mediators.
Araghchi said that the Qatari intermediaries were expected to soon engage with the US side.
"They are set to raise the matter with the American side once more, after which the final US response will be conveyed to us", Araghchi said. "If there is a response, the Qataris will convey it to us and a decision will be made in Tehran on that basis."
US and regional officials have confirmed to The Associated Press that mediators are working with Iran and the US on trying to broker a deal to end the fighting and open the strait.
