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Iranian Rial Crashes to New Record Low Amid Ongoing Sanctions and Blockade

Guavy AI Editorial Team
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The Iranian rial has fallen to a new record low, with over 2.5 million rials needed to exchange for one US dollar.

This marks a significant decline from its previous negative record of 2.2 million rials per dollar set just 27 days ago on September 2.

The rial's devaluation is attributed to international sanctions, which have been in place for years, and the recent US naval blockade targeting Iranian oil.

Negotiations are underway between Iran and the United States to open the Strait of Hormuz, a key sea route, with indirect talks described as 'more serious' by Iranian Foreign Minister Abbas Araghchi.

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