Iran Rations Currency Sales After Rial Weakens to New Record Low

Beleaguered rial hits 500,000 against US dollar in open market
Central Bank to limit sales of euros to air travellers only

Iranian rials
Photographer: Atta Kenare/AFP/Getty Images

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By Golnar Motevalli and Arsalan Shahla

February 21, 2023 at 2:38 PM UTC

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Iran has introduced fresh restrictions on foreign currency sales after a rush on euros and dollars weakened the rial to an all-time low of 500,000 against the greenback.