Iran to continue nuclear plans despite currency slide

Iran will press on with its nuclear programme despite the problems caused by Western sanctions, including a dramatic slide in the value of its currency, President Mahmoud Ahmadinejad said.

Ahmadinejad's comments came amid an accelerated slide in Iran's currency, which has now lost more than 80 per cent of its value compared with a year ago, with 17 per cent of its value shed on Monday alone.

The rial slipped another four per cent on Tuesday to close at 36,100 to the dollar, according to exchange tracking websites.

Ahmadinejad said the plunge was part of an economic "war" waged by the West on the Islamic republic and "a psychological war on the exchange market."

Emike Umolu reports.