Iran receives U.S. response to peace proposal as rial hits record low

September 30, 2026 at 06:40 PM2 min

This digest was compiled by AI from multiple sources — links to the originals are below.

Iranian officials said Wednesday they received an official U.S. response to Tehran's latest proposal to end the seven-month war. Foreign Minister Abbas Araghchi presented the response to President Masoud Pezeshkian at a Cabinet meeting. The announcement came as Iran's currency fell to a new record low.

Key Facts

Iranian Foreign Minister Abbas Araghchi presented the U.S. response to President Masoud Pezeshkian at a Cabinet meeting on Wednesday.
President Pezeshkian said the agreement must be based on a win-win strategy.
The U.S. Treasury Department unveiled new sanctions on Tuesday targeting 10 individuals and entities in Iran, Hong Kong, and Pakistan.
Iran's currency fell to a new record low on Tuesday, with traders in Tehran exchanging more than 2 million rials per U.S. dollar.

U.S. Response Delivered

Iranian officials indicated Wednesday they received an official U.S. response to Tehran's latest proposal to end the seven-month war. The officials did not disclose the contents of the response or whether it constituted a rejection. Foreign Minister Abbas Araghchi presented the response to President Masoud Pezeshkian at a Cabinet meeting, according to government spokesperson Fatemeh Mohajerani. Pezeshkian said Iran will make every effort to bring the agreement to fruition and will firmly stand up for the rights of the Iranian people.

Mediation and Sanctions

Araghchi returned to Iran after attending the U.N. General Assembly in New York, where officials held indirect talks with U.S. officials and met with Qatari and Pakistani mediators. Araghchi briefed the Cabinet on Iran's conditions for reopening the Strait of Hormuz, which were conveyed through mediators. President Donald Trump publicly rejected the proposal last week, saying Iran's offer would not be acceptable. The U.S. Treasury Department on Tuesday unveiled new sanctions targeting 10 individuals and entities in Iran, Hong Kong, and Pakistan over accusations of procuring weapons for Iran's defense ministry.

Economic Freefall

Iran's economy has been in freefall since the conflict began in late February. The country's currency fell to a new record low on Tuesday, with traders in Tehran exchanging more than 2 million rials per U.S. dollar.