Iran unveiled a new medium-range ballistic missile on Thursday during a military parade commemorating the Iran-Iraq war, state television said.

"The liquid-fuelled Rezvan ballistic missile has an operational range of 1,400 kilometres (870 miles)," said the station, which aired images of the missile mounted on a military vehicle.

The Rezvan missile was presented in Tehran during an annual parade of the armed forces to commemorate the start of the 1980-88 Iran-Iraq war.

"It's a precision ballistic missile," the head of the Islamic Revolutionary Guard Corps, Major General Hossein Salami, was quoted as saying by state news agency IRNA.

The International Institute for Strategic Studies says Iran has around 20 types of ballistic missiles as well as cruise missiles and drones.

The London-based research institute said the Islamic republic's priority was to make its missiles more precise.

In February, the Guards announced the creation of the Kheibar Shekan, a medium-range missile capable of "hitting targets within a radius of 1,450 kilometres".

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