Iran's currency hits record low as war and sanctions strain economy

Iran's currency plunged to a record low on Tuesday, with traders in Tehran exchanging over 2.5 million rials per U.S. dollar, reflecting severe economic damage from the ongoing Middle East war. The decline follows a previous record low of 2.2 million rials on Sept. 2, with the currency repeatedly hitting new lows since the war began in February. A U.S. naval blockade on Iranian oil and new sanctions have driven the freefall, compounding years of international sanctions pressure. Iran's foreign minister said indirect negotiations with the U.S. over reopening the Strait of Hormuz have become "more serious," with Qatari mediators expected to relay Washington's final response. Meanwhile, a Guard spokesman urged Americans to protest the conflict, and Saudi Arabia's East-West Pipeline resumed operations after an attack.