The Iranian rial hits a record low ahead of the US announcement of new sanctions

On August 24, the Iranian rial reached a record low as the United States prepares to implement new economic sanctions against Tehran. The impending measures are described as an 'economic D-Day' intended to conclude a six-month-long conflict and reopen the Strait of Hormuz. In response, Iranian officials have rejected the prospect of the United States dictating the terms for ending the hostilities and have cautioned other nations against participating in the U.S.-led economic campaign.

Amidst these tensions, the head of the Pakistani Army, Field Marshal Asim Munir, arrived in Tehran to facilitate mediation efforts. His visit aims to promote peace during a period of stalled negotiations between Iran and the United States.