Iran dismisses US efforts for UN sanctions as currency drops

TEHRAN, Iran (AP) — Iran's president has dismissed U.S. efforts to restore all U.N. sanctions on his country, as mounting economic pressure from Washington pushed the local currency down to its lowest level ever. Iran’s currency dropped to 272,500 to the U.S. dollar on Sunday at money exchange shops across Tehran. The rial has lost more than 30% of its value to the dollar since June. Sweeping U.S. sanctions on Iran continue to crush its ability to sell oil globally. The U.S. move to try and restore U.N. sanctions has been rejected as illegal by most of the rest of the world, including other Security Council nations.