Iran's currency hits new record low as U.S. prepares to announce more sanctions

The rial dropped to 2.02 million to the U.S. dollar as trading opened on currency markets. The currency had already been under pressure before the U.S. and Israel attacked Iran on Feb. 28 - now Trump's administration has promised even stronger sanctions than those already in place would be announced Monday, including secondary sanctions on countries that continue to do business with Iran.