Iran’s currency falls to new low as US blockade, sanctions impact trade

Tehran, Iran – Iran’s national currency has plunged to new lows as authorities mobilise to dampen the impact of the naval blockade enforced by the United States. The Iranian rial shot above 1.81 million to the US dollar on the open market by early afternoon on Wednesday before partially recovering. The embattled currency changed hands for about 1.54 million earlier this week, and its rate was about 811,000 per US dollar a year ago. …