Iranian rial hits record low

Iran’s rial has hit a new record low, with traders in Tehran exchanging more than 2.5 million rials for $1 on Tuesday (September 29), reflecting mounting pressure on the country’s economy. 

The latest fall came just 27 days after the currency previously hit a record low of about 2.2 million rials per dollar on September 2. The rial has repeatedly weakened since the conflict in the Middle East began in February.