Despite claims made by Ahmadinejad and his government by announcing an increase in bank interest rates in a bid to absorb liquidity in the market and supporting the Iranian currency, the price of the dollar decreased only 500 rials and each dollar is now 22,500 rials.
One state-run media outlet wrote: “Based on these figures, the price of the dollar dropped 500 rials from 23,000 rials to 22,500 rials, and euro is traded at 24,800 rials.”