Iran's Currency Hits Record Low Amid Ongoing War Efforts

Iran's currency has hit a new record low, falling to over 2.5 million rials per US dollar in Tehran on Tuesday.

This decline marks a significant drop from just 27 days ago, when the rial reached its previous record of 2.2 million to the dollar on September 2.

The currency has continued to plummet since the war began in February, repeatedly reaching new lows despite attempts at diplomacy.

Iran's top diplomat, Foreign Minister Abbas Araghchi, stated that indirect negotiations with the US aimed at reopening the critical Strait of Hormuz have become 'more serious', with Qatari intermediaries set to engage with the American side soon.