Iran’s currency hits an all-time low against the US dollar

Iran’s currency, the rial, has hit a record low, trading at over 2 million rials to the dollar on unofficial markets. The devaluation comes a day before the United States is due to impose what US Treasury Secretary Scott Bessant described as “the toughest sanctions in history” on Tehran. Iran was struggling financially even before the start of its ongoing conflict with the US and Israel, nearly six months ago.

Also in the programme: Ukrainian President Volodymyr Zelensky warns against holding wartime elections, following repeated calls from his sacked defence minister to hold a nationwide vote; Syria’s foreign minister says he expects peace talks with Israel to resume soon; and we hear from the director of London’s Natural History Museum, where a gallery which has remained hidden from view since World War Two is about to reopen.

(Photo: Iranian woman buys vegetables at a street market in Tehran, Iran, 22 August 2026. Credit: Abedin Taherkenareh/EPA/Shutterstock)