The currency crisis in Iran and rial free-fall worsened on Monday with the rial reaching a new all-time low of 26,000 to the dollar and 33,500 to the euro, the state-run Asr-e Iran daily reported.
“The dollar in Tehran’s Bazaar today is sold at around 26,000 rials, with the euro being at 33,500 and the UK pound valued at 41,000 rials,” state-run media reported on Tuesday.
“At a time when the enemy is seeking to impose more limitations in our international trade and damage our production lines, issuing circular letters in contrast with the first principle in trade and production – specifying a fixed price for goods – is equivalent to fueling the enemy’s fire,” said a member of the mullahs’ Chamber of Commerce Board of Directors.
“It has been two weeks since the Central Bank has refused to inject currency to the market… with this trend, $11 billion from the people’s pockets are poured into specific locations,” said Majlis (parliament) member Tavakoli.