Iran's rial plunges to record low as regional conflict strains Tehran's economy

Iran's currency hit a new record low Tuesday, with traders exchanging over 2.5 million rials per U.S. dollar, reflecting how the Middle East war has eroded Tehran's economic stability. The decline came 27 days after the rial's previous record of 2.2 million on September 2, with repeated lows since the war began in February. Meanwhile, 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. The Iranian Revolutionary Guard Corps appealed to Americans to protest the conflict, urging Washington to admit defeat and leave the region. U.S. officials insist Iran's economy cannot sustain the war, with President Trump predicting the conflict will end after the November elections.