By bne correspondent in Tehran The Iranian rial (IRR) has been successively recording drops in recent days following the escalation of tensions in the region between Shi’ite Muslim militias close to Iran and the US and Israel. This has raised concerns among market observers over another likely drop in the Iranian currency. The US dollar reached IRR588,000 by the close of trade, up more than 4% over the week in Tehran’s Ferdowsi Street, home to several major foreign currency exchanges. Unsurprisingly, the market has been experiencing a flood of new demand, mostly from people trying to save the …