A new law allows Iran’s police to stop and search anyone carrying foreign currencies and ask them to provide sufficient documents.
The legislation – which was proposed and implemented by Iran’s central bank – aims to help stop the ever-growing value of the dollar vs the rial.
In the last two weeks, the value of the dollar in the country’s free market has gone up by about 30 per cent.
The devaluation of the rial has been a gradual process over the year, but it is now at its lowest ebb ever since President Obama’s administration signed further sanctions against the country’s central bank and its crude oil exports.
Karen Zarindast reports.