Following new EU sanctions, Iran's currency has plummeted further. In bureaux de change, the dollar exchange rate reached more than 500,000 rials for the first time amid political isolation on Tuesday. The euro exchange rate rose to around 530,500 rials.
On Monday, the EU imposed new sanctions on those responsible in Iran for serious human rights violations in the context of the recent protests.
According to financial experts, Iran's sanctions and political isolation are a major reason for the rial's devaluation. The stalled negotiations to revive the 2015 Vienna nuclear deal have also unsettled traders in the foreign exchange market. The future of the nuclear deal is uncertain. Over the past ten years, the rial has lost more than 90 percent of its value against the euro.
The women's protests were triggered by the death of the Iranian Kurd Jina Mahsa Amini. She died in police custody in mid-September after being arrested by the morality police for violating Islamic dress codes.
The protests have plunged the political leadership into one of the worst crises in decades.