️🇮🇷 Iran's rial fell to a new low against the US dollar despite the intervention of the central bank of up to 2 billion dollars aimed at supporting the currency.

️🇮🇷 Iran's rial fell to a new low against the US dollar despite the intervention of the central bank of up to 2 billion dollars aimed at supporting the currency.

The dollar traded on Saturday at around 2.688 million riyals on the free market, compared to 2.632 million on Friday.

The central bank began selling up to 10,000 dollars per person in five designated banks at a base rate of 259,000 riyals as the first phase of a program that releases a billion dollars out of a total of 2 billion dollars.

"The enemy is using this to influence the exchange rate of our currency," said Mehdi Darabi, an adviser to Iran's central bank, who described the drop as "temporary." The Real has lost more than half of its value over the past year.