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Iran has introduced new restrictions on foreign currency sales after a rush on euros and dollars weakened the rial to a record low of 500,000 against the dollar.
The Central Bank of Iran scrapped a programme that allowed people to buy up to €5,000 ($5,324.3) a year from authorised sellers and replaced it with a more stringent annual allocation of €500 for air passengers, reports www.thenationalnews.com
The price of food rapidly increased as fears of impending inflation grew.