What does the cryptic crossword clue "Where fare goes down, Iago hopes, when travelling (9)" mean?

The definition is "Where fare goes down,". The wordplay uses an anagram. anagram of IAGO + HOPES, = OESOPHAGI; definition: "Where fare goes down," The answer is OESOPHAGI.

Where fare goes down, Iago hopes, when travelling (9)

Independent Cryptic #11995 | 25 Across | 2025-03-20 flower

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Telegraph #30617 (2024-05-18)