Iran's central bank has listed on its website on Saturday the new price of a dollar. It was now 24,779 riyals.
According to news agencies Mehr and ISNA, this new rate would replace 12,260 riyals as the official "reference" rate.
The Iranian riyal came under international pressure over a disputed nuclear program in Tehran, the country's capital. The result of this pressure was a reduction in the value of riyal over the last two years. In addition, the country's oil sales has been limited, foreign exchange earnings more hard to make, and access to the global banking system has been cut.
The central bank has made no explanations for the change in rate. However, according to the Iranian media, the change meant that the Iranian government now has only one official rate recognized for the riyal.
Last year, multiple rates were recognized, based on a tiered system that prioritized goods over luxury items.
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