Mahtab Gholizadeh, an economic journalist, pointing to the jump in the dollar’s price, said the government and the central bank have taken “blind actions” to rein in the foreign-exchange market—actions that are “more like punching in the dark”; from injecting foreign currency and setting limits on transactions to stopping overnight Tether (USDT) trading and confronting traders, without the exchange rate showing a responsive reaction.

She added that, at the same time, the actions of the U.S. Treasury Department under the leadership of Scott Bessent and new sanctions are putting more pressure on the value of the rial and, by making foreign trade and money transfers more difficult, limit the real supply of foreign currency.