The ongoing spin-down episode of 4U 1626-67

We report the X-ray characteristics of the persistent X-ray pulsar 4U 1626-67 using simultaneous NuSTAR and NICER observations. The X-ray pulsar 4U 1626-67 has just encountered a torque reversal in 2023 and is presently in the spin-down state. We have examined the temporal and spectral characteristics of the source during its ongoing spin-down episode. The pulse profiles of the source are characterized by multiple substructures at lower energies and a wide asymmetric single-peaked structure at higher energies. The pulse fraction follows an overall increasing trend with energy. We confirm the existence of mHz quasi-periodic oscillation (QPO) exclusively during the current spin-down phase in all the observations. The source is spinning down at 0.00045(4) s yr^-1. The broad-band spectrum during this phase is described by empirical NPEX model and a soft blackbody component with kT ~ 0.25 keV. In addition to the iron emission line, we also confirm the presence of cyclotron line at ~36 keV. The source flux continues to decrease during the current spin-down phase, and the corresponding luminosity ~(3.3-4.9) × 10³⁶ erg s^-1 lies in the intermediate range of accreting X-ray pulsars that may be associated with a hybrid accretion geometry. The magnetic field strengths estimated using the cyclotron line measurements and QPO frequency are consistent. The evolution of the spectral parameters relative to the pulsed phase is examined using phase-resolved spectroscopy.