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The Business Standard

Thursday
October 08, 2026

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THURSDAY, OCTOBER 08, 2026

Hormuz

Hormuz

Iran’s currency hits record low as war weighs on economy. Photo: Collected

Iran's currency hits record low as war weighs on economy

The latest decline came just 27 days after the rial hit its previous record of 2.2 million to the dollar on 2 September. The currency has repeatedly reached new lows since the war began in February.

A view of a village on the coast of Bab el-Mandeb, Yemen, April 2, 2026. REUTERS/File Photo P

Putin and Saudi crown prince call for safe passage via Hormuz, Bab el-Mandeb

Members of Iranian militia forces (Basij) attend a military march in Tehran, Iran, 18 September, 2026.

Iran warns against new escalation by US and allies

A satellite imagery shows Bab el Mandeb Strait, a key shipping waterway and the gateway to the Red Sea, in this handout picture dated 12 July, 2026.

Why is the Bab el-Mandeb Strait so important?

Oil tankers pass through the Strait of Hormuz, December 21, 2018. Photo: REUTERS

Oil prices fall $2 on Iran-Oman talks to reopen strait of Hormuz

Banners with pictures of the late Supreme Leader of Iran, Ayatollah Ali Khamenei, are displayed on a street in Tehran, Iran, August 22, 2026. Photo: Majid Asgaripour/WANA (West Asia News Agency) via REUTERS

Iran vows to retaliate after US widens sanctions

US President Donald Trump. Photo: Reuters

Trump says he will hold off on fresh Iran attack in hope of quick deal

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