Iran rial crashes past 2.5 million per dollar: War, sanctions push currency to new low
The Iranian rial fell past 2.5 million rials per dollar, marking a new low just 27 days after hitting 2.2 million. This decline is attributed to ongoing US sanctions and a naval blockade affecting oil exports, intensifying economic pressure on Iran amid the ongoing conflict. As the situation develops, Iran is signaling potential progress in indirect talks with the US regarding the Strait of Hormuz.