Iranian Currency Plummets to Historic Low, Exceeding 2.5 Million Rials per US Dollar

Deep News
Sep 29

Iran's currency, the rial, fell to a historic low on Tuesday, with more than 2.5 million rials trading for one US dollar on the Tehran market, underscoring the ongoing erosion of Iran's economy caused by the Middle East conflict.

This marks just 27 days since the rial set its previous record low of 2.2 million rials per dollar on September 2. Since the war broke out in February, the currency's exchange rate has repeatedly hit new lows.

Meanwhile, Iran's top diplomat stated that indirect negotiations between Iran and the United States aimed at reopening the critical waterway, the Strait of Hormuz, have become "more serious."

General Hossein Mohebbi, chief spokesman for Iran's Islamic Revolutionary Guard Corps, on Tuesday called on the American public to take to the streets to protest the conflict.

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