With the value of Iran’s currency, the rial, plunging on a daily basis, the value of this currency reached record new lows on Sunday, trading at nearly 30,000 rials to one US dollar.
According to state-run media outlets in Iran, on Sunday morning one dollar was sold at 29,700 rials, each euro at 39,100 rials and each UK pound at 47,100 rials.
The increasing price of foreign currency is taking place while Ahmadinejad, Central Bank chief Bahmani and economic minister Hosseini had all promised the price of rial would decrease against foreign currency and become stabilized at one fixed price.