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Iran's Currency Hits Lowest Value Ever against the Dollar

A vendor inspects Iranian rials at a currency exchange shop in Baghdad, Iraq August 8, 2018. (Reuters)
A vendor inspects Iranian rials at a currency exchange shop in Baghdad, Iraq August 8, 2018. (Reuters)
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Iran's Currency Hits Lowest Value Ever against the Dollar

A vendor inspects Iranian rials at a currency exchange shop in Baghdad, Iraq August 8, 2018. (Reuters)
A vendor inspects Iranian rials at a currency exchange shop in Baghdad, Iraq August 8, 2018. (Reuters)

Iran’s currency has dropped to its lowest value ever at 190,000 rial for each dollar amid severe US sanctions against the country.

The Iranian currency has tumbled from a rate of 32,000 rials to $1 at the time of Tehran's 2015 nuclear deal with world powers.

The rial unexpectedly rallied after President Donald Trump’s decision to withdraw the US from the nuclear deal and reimpose crippling trade sanctions over two years ago.

US sanctions have caused Iran’s oil exports, the country’s main source of income, to fall sharply.

Last week, Senior Vice President Eshaq Jahangiri said that Iran’s oil revenues have plummeted to $8 billion from $100 billion in 2011.

Iran recently sent five tankers with at least $45.5 million worth of gasoline and similar products to Venezuela.

It was a way to bring money into its cash-starved Iran and put its own pressure on the US, which under Trump has pursued maximalist campaigns against both nations.

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World

Top Trump Iran Negotiator Says Visits US Aircraft Carrier in Middle East

US Special Envoy Steve Witkoff delivers a press conference upon the signing of the declaration on deploying post-ceasefire force in Ukraine, during the so-called "Coalition of the Willing" summit, at the Elysee Palace in Paris, France, January 6, 2026. (Reuters)
US Special Envoy Steve Witkoff delivers a press conference upon the signing of the declaration on deploying post-ceasefire force in Ukraine, during the so-called "Coalition of the Willing" summit, at the Elysee Palace in Paris, France, January 6, 2026. (Reuters)
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Top Trump Iran Negotiator Says Visits US Aircraft Carrier in Middle East

US Special Envoy Steve Witkoff delivers a press conference upon the signing of the declaration on deploying post-ceasefire force in Ukraine, during the so-called "Coalition of the Willing" summit, at the Elysee Palace in Paris, France, January 6, 2026. (Reuters)
US Special Envoy Steve Witkoff delivers a press conference upon the signing of the declaration on deploying post-ceasefire force in Ukraine, during the so-called "Coalition of the Willing" summit, at the Elysee Palace in Paris, France, January 6, 2026. (Reuters)

US President Donald Trump's lead Iran negotiator Steve Witkoff on Saturday said he visited the USS Abraham Lincoln aircraft carrier currently in the Arabian Sea, with Washington and Tehran due to hold further talks soon.

"Today, Adm. Brad Cooper, Commander of US Naval Forces Central Command, Jared Kushner, and I met with the brave sailors and Marines aboard the USS Abraham Lincoln, her strike group, and Carrier Air Wing 9 who are keeping us safe and upholding President Trump's message of peace through strength," said Witkoff in a social media post.

Iranian Foreign Minister Abbas Araghchi said on Saturday he hoped talks with the United States would resume soon, while reiterating Tehran's red lines and warning against any American attack.

World

Israel’s Netanyahu Expected to Meet Trump in US on Wednesday and Discuss Iran

Israeli Prime Minister Benjamin Netanyahu delivers a speech during a special session to mark the 77th anniversary of the Knesset's establishment and the 60th anniversary of the dedication of the current building at the Knesset, the Israeli parliament, in Jerusalem, 02 February 2026. (EPA)
Israeli Prime Minister Benjamin Netanyahu delivers a speech during a special session to mark the 77th anniversary of the Knesset's establishment and the 60th anniversary of the dedication of the current building at the Knesset, the Israeli parliament, in Jerusalem, 02 February 2026. (EPA)
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Israel’s Netanyahu Expected to Meet Trump in US on Wednesday and Discuss Iran

Israeli Prime Minister Benjamin Netanyahu delivers a speech during a special session to mark the 77th anniversary of the Knesset's establishment and the 60th anniversary of the dedication of the current building at the Knesset, the Israeli parliament, in Jerusalem, 02 February 2026. (EPA)
Israeli Prime Minister Benjamin Netanyahu delivers a speech during a special session to mark the 77th anniversary of the Knesset's establishment and the 60th anniversary of the dedication of the current building at the Knesset, the Israeli parliament, in Jerusalem, 02 February 2026. (EPA)

Israeli Prime Minister Benjamin Netanyahu is expected to meet US President Donald Trump on Wednesday in Washington, where they will discuss negotiations with Iran, Netanyahu's office said on Saturday.

Iranian and US officials held indirect nuclear ‌talks in the ‌Omani capital ‌Muscat ⁠on Friday. ‌Both sides said more talks were expected to be held again soon.

A regional diplomat briefed by Tehran on the talks told Reuters Iran insisted ⁠on its "right to enrich uranium" ‌during the negotiations with ‍the US, ‍and that Tehran's missile capabilities ‍were not raised in the discussions.

Iranian officials have ruled out putting Iran's missiles - one of the largest such arsenals in the region - up ⁠for discussion, and have said Tehran wants recognition of its right to enrich uranium.

"The Prime Minister believes that any negotiations must include limiting ballistic missiles and halting support for the Iranian axis," Netanyahu's office said in a ‌statement.

World

Italy FM Rules Out Joining Trump’s ‘Board of Peace’

Italy's Minister for Foreign Affairs Antonio Tajani speaks to the press during the EPP Leaders’ meeting, in Zagreb, Croatia, 30 January 2026. (EPA)
Italy's Minister for Foreign Affairs Antonio Tajani speaks to the press during the EPP Leaders’ meeting, in Zagreb, Croatia, 30 January 2026. (EPA)
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Italy FM Rules Out Joining Trump’s ‘Board of Peace’

Italy's Minister for Foreign Affairs Antonio Tajani speaks to the press during the EPP Leaders’ meeting, in Zagreb, Croatia, 30 January 2026. (EPA)
Italy's Minister for Foreign Affairs Antonio Tajani speaks to the press during the EPP Leaders’ meeting, in Zagreb, Croatia, 30 January 2026. (EPA)

Italy will not take part in US President Donald Trump's "Board of Peace", Italian Foreign Minister Antonio Tajani said Saturday, citing "insurmountable" constitutional issues.

Trump launched his "Board of Peace" at the World Economic Forum in Davos in January and some 19 countries have signed its founding charter.

But Italy's constitution bars the country from joining an organization led by a single foreign leader.

Prime Minister Giorgia Meloni, a Trump ally, last month noted "constitutional problems" with joining, but suggested Trump could perhaps reopen the framework "to meet the needs not only of Italy, but also of other European countries".

Tajani appeared Saturday to rule that out.

"We cannot participate in the Board of Peace because there is a constitutional limit," he told the ANSA news agency.

"This is insurmountable from a legal standpoint," he said, the day after meeting US Secretary of State Marco Rubio and US Vice President JD Vance at the Olympics in Milan.

Although originally meant to oversee Gaza's rebuilding, the board's charter does not limit its role to the Palestinian territory and appears to want to rival the United Nations.