In a cheesecloth-lined sieve set over a bowl, drain yogurt, chilled, for 1 hour. Discard liquid. Wearing rubber gloves, seed and devein jalapenos, reserving 1/4 teaspoon seeds. Cut chilies into pieces and in a blender puree with reserved chile seeds, coriander, fennel, and cumin seeds, and water until smooth.
In skillet heat olive oil and cook chile puree, stirring frequently, until liquid evaporates, about 3 minutes, and cool completely.
In a bowl stir together mint, parsley, and peanuts yogurt, chili puree, lime zest and lime juice. Taste and adjust with salt and pepper, to taste. Dip may be made 2 days ahead and chilled, covered. Serve with chips and vegetables.
Recipe courtesy of Gourmet Magazine