Iranian currency drops to record low as US plans to tighten sanctions

Iran’s ​currency – the rial – has dropped ⁠to a record ⁠low of more ‌than ⁠two million to the US dollar on the open market, according to websites that track the currency’s movement. The free market rate is different from the official rate, which values the rial 29 percent higher against the US dollar. The …

Iran's rial reached a record low as the United States prepared new economic sanctions. Existing restrictions and a naval blockade have already severely impacted Iran's economy. The currency's decline has not yielded concessions from the US President. Iran and Oman are reportedly nearing an agreement on managing the