In Iran, sanctions bite and currency collapses

[NewsCaster]

Raheb Homavandi / Reuters fileA money changer holds Iranian rial banknotes as he waits for customers in Tehran's business district in this January 7, 2012 file photo.  By Ali Arouzi, NBC News correspondent  TEHRAN – Even though threats of war with Israel are almost a daily occurrence, what’s really on people's minds in this city is the economy.The United States, the European Union and the U.N. have  against Iran, blocking access to the international banking system and curbing sales of Iranian crude oil as a way to persuade Tehran to abandon its nuclear program.   See our full coverage on international hot spots crucial to U.S. foreign policy ahead of elections in our At the Brink series here. And on Sunday, Sept. 30, and Monday, Oct. 1, tune into special coverage on all NBC News platforms from NBC's team of anchors and correspondents deployed in five countries across the region.    As a result, Iran’s currency, the rial, is in a constant state of flux, but mostly on a downward trajectory. These days, it seems to fall in value against the dollar on an hourly basis. On Tuesday the currency hit an all-time low against the U.S. dollar, trading at 26,500 to the U.S. dollar on the open market, according to Persian-language currency tracking website Mazanex.

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[KingFemzee]

The sanctions will continue to fall upon them as long they refuse to quite the so called Uranium enrichment that most part of the world perceive as a move to build nuclear warheads.