Iran caps US dollar purchases $1,000 daily, $10,000 total
Business
Starting today, people in Iran can only buy up to $1,000 in US dollars per day, with a total limit of $10,000.
To make these purchases (between $100 and $1,000), you'll need your bank card and national ID.
Even with the new rules, you can still get dollar bills at the official rate from certain banks and exchange offices.
Rial weakens amid US sanctions
The Iranian rial has dropped sharply; one dollar now costs 262,000 rials compared to 135,000 rials earlier this year, mostly because of tough US sanctions.
These new limits come right after the US targeted people and companies linked to Iran's military funding.
According to the Treasury Department, it's all part of a bigger plan to disrupt how money moves through Iran's financial system.