Iranian Currency Crashes to Record Low Amid War and Sanctions

The Iranian rial has hit a new record low against the US dollar, falling to more than 2.5 million rials per dollar in a reflection of the war's devastating impact on Iran's economy.

The currency has repeatedly reached new lows since the start of the conflict in February, with the latest decline coming just 27 days after it hit its previous record low of 2.2 million to the dollar on September 2.

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