Iran currency falls to record low against dollar as tensions with US mount | News

As traders opened on Saturday, the exchange rate fell to 1,043,000 rials to the dollar.

Iran’s rial currency has hit a record low against the US dollar amid growing tensions between Tehran and Washington over Iran’s nuclear programme.

The exchange rate had plunged to more than 1 million rials during festivities for Persian New Year, Nowruz, as currency shops closed and only informal trading took place on the streets, creating additional pressure on the market.

As traders resumed work…