Iran’s currency, the rial, plunged to a new all-time low of 1,074,000 to the U.S. dollar on Wednesday, just hours before President Masoud Pezeshkian was due to address the United Nations General Assembly in New York.

The steep fall reflects mounting market anxiety as Iran faces the imminent reimposition of U.N. sanctions and a renewed diplomatic standoff with the West over its nuclear program.

Khamenei shuts door on U.S. talks

The currency turmoil followed remarks by Supreme Leader Ayatollah Ali Khamenei, who again rejected the prospect of direct negotiations with Washington, according to a report by Associated Press.

His stance effectively undercut Pezeshkian and Foreign Minister Abbas Araghchi, limiting what they could achieve diplomatically in New York. It also dimmed the chances of

See Full Page