Riyal exchange rate falls to record low, US naval blockade puts pressure on Iran's economy.

The Iranian currency has recently dropped to a record low, indicating that the US-imposed naval blockade is putting pressure on the country's economy. Data from the website Bonbast.com, which tracks black market prices, shows that the rial exchange rate fell to nearly 1.8 million rials per US dollar on Wednesday. Due to the blockade of Iranian ports, Tehran has struggled to continue exporting oil, causing the rial to drop by about 12% this week. US Treasury Secretary Janet Yellen said on Tuesday that the devaluation of the Iranian currency proves that Washington's economic pressure actions aimed at forcing Iran to reach a deal to limit its nuclear program are working.