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US is due to reimpose a first batch of sanctions on Iran's economy on August 7. It was pulled out of a 2015 deal under which international sanctions on Iran were lifted in return for curbs on its nuclear program.
The government at 42,000 in April and threatened to crackdown on black market traders.
But the trade continued with Iranians worried about a prolonged economic downturn to their savings, or as an investment in the hope will continue to drop.
With banks often refusing to sell their dollars at the artificially low rate, the government was forced to become more flexible, allowing more flexibility for certain groups of importers.
The handling of the crisis by President Hbadan Rouhani to replace central bank chief, Valiollah Seif.
The Iranian currency was 70 to a dollar during the 1979 Islamic revolution and has steadily lost value. When President Hbadan Rouhani took over in 2013, one dollar bought 36,000 rials.
(With agency inputs)
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