Iranian rial hits new record low against US dollar amid regional tensions

The Iranian currency plunged to a new record low, with the US dollar trading at over 2.5 million rials on the parallel market in Tehran.

This sharp decline comes just 27 days after the rial set its previous record of 2.2 million to the dollar on September 2, highlighting the rapid pace of its depreciation.

Economic sources said the ongoing war in the Middle East has further eroded economic stability in Tehran, putting increased pressure on the Iranian rial.

The currency has been on a continuous downward trend since the outbreak of the conflict in late February, amid ongoing economic and political uncertainty in the country.