Iran's currency hits a new record low as war erodes the country's economic stability
Traders in Tehran pushed the currency past 2.5 million to the dollar as indirect talks over the Strait of Hormuz continued.
- The Iranian rial fell to a new record low on Tuesday, with traders in Tehran exchanging more than 2.5 million rials to the United States dollar.
- Foreign Minister Abbas Araghchi told Iranian media yesterday that Iran's current focus is solely on the Strait of Hormuz as Qatari intermediaries prepare to engage the United States on indirect negotiations.
- President Donald Trump spurned an Iranian proposal earlier this week to reopen the Strait in seven days if the United States lifted sanctions and released frozen assets.
- Gen. Hossein Mohebbi, spokesman for the Iranian Revolutionary Guard Corps, urged Americans to protest the conflict, accusing the United States of using Iran's nuclear program to "plunder Iran's wealth."
- Polling shows the war has darkened the American electorate's mood ahead of the Nov. 3 election, with elevated gasoline prices threatening President Donald Trump's Republican party's control of Congress.
134 Articles
134 Articles
The historic fall of the Iranian rial due to sanctions has caused drastic increases in food prices and a drop in average wages, threatening the living standards of citizens.
Iran's conflict with the US over the Strait of Hormus has its price: the exchange rate of the national currency Rial continues to fall - with drastic consequences for citizens and the economy.
War, sanctions and blockades: Iran's economy is on the ground, with drastic consequences for the population.
The rial has fallen to a historic low, Iran's purchasing power is dwindling, food prices are exploding.
(Seoul = Yonhap News) Reporter Kang Hoon-sang = The value of the Iranian rial has fallen to another all-time low, exceeding 2.5 million rials per dollar based on the Tehran exchange market.
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