Iran Caps Dollar Purchases At $1,000 Per Day Amid Sanctions-Hit Economy
Iran has implemented new restrictions on US dollar purchases, capping daily transactions at $1,000 per person to manage a currency crisis exacerbated by international sanctions. The move follows recent U.S. Treasury actions targeting Iranian financial networks.
Why it matters
These measures reflect the severe economic strain on Iran caused by ongoing geopolitical tensions and Western sanctions.
Iran has issued a new guideline to buy US dollars from banks as the country's financial system is strained due to sanctions.According to Fars news agency, under the latest rules for banks and exchange offices, buyers may purchase up to $10,000 in total, capped at $1,000 per day. For smaller amounts, customers can use their bank card and national ID to request between $100 and $1,000.Selected bank branches and exchange offices still sell US dollar banknotes at the official rate.
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