Iran rial hits record low against dollar amid US blockade

The Iranian rial plummeted to a record low against the dollar on Wednesday, according to currency-tracking websites, as a US naval blockade of the country's ports continued.

On the black market, the rial was trading at around 1.8m rials against the dollar, the Bonbast and AlanChand websites reported. When the war erupted two months ago, one dollar was traded at about 1.7m rials.

Iran officially has several fixed exchange rates, but the two websites are generally used as benchmarks for unofficial rates.