Iranian Rial Hits Record Low as War with US Continues to Escalate

The Iranian rial has hit a record low, falling to over 2.5 million rials per US dollar in Tehran as the country's economy continues to struggle under international sanctions and the ongoing war with the United States.

The latest decline marks a new low for the currency, which had previously reached a record low of 2.2 million rials per dollar just 27 days ago.

The Iranian economy has been under duress for years due to international sanctions, but the US naval blockade on Iranian oil and new sanctions imposed since the start of the war have sent it into free fall.

Meanwhile, Iran's top diplomat, Foreign Minister Abbas Araghchi, has said that 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, has called on Americans to protest the conflict.