The Iranian rial (IRR) reached a record low on Tuesday, with the unofficial exchange rate at approximately IRR 1.52 million per USD.
There is no official exchange rate between the two currencies due to sanctions imposed by the Trump administration on the Iranian regime, particularly its economy.
A previously recorded low rate of approximately IRR 1.3 million per USD in December was a cause of nationwide protests that have continued over the past 30 days.
The anti-regime London-based outlet Iran International noted that the rial's value has undergone "sharp swings" over the past month.
Additionally, sites such as the currency-tracking site IntelliNews valued the rial at 1.804 million per Euro and 2.078 per British Pound.
IntelliNews also recorded the gold price in Iran and compared it with the global market.
According to the website, gold in Iran reached IRR 181 million per gram on January 27, as compared to approximately $5,087 per ounce in the international market.
Islamic Regime at weakest point since 1979 revolution
This poor economic confidence comes amid US President Donald Trump receiving several intelligence reports that indicate the Islamic Republic's hold on power is at its weakest point since the 1979 Islamic Revolution deposed Shah Mohammed Reza Pahlavi, The New York Times reported on Monday.
The outlet, citing "several people familiar with the information," noted that the intelligence reports also indicated that Tehran's position is continuing to weaken.
These intelligence reports come amid 30 days of nationwide protests against the regime, initially triggered by economic unrest and dissatisfaction with the rising cost of living, but which spread while the regime resorted to an intense clampdown on protest activity.
The US-based Human Rights Activists News Agency (HRANA)'s data shows that 6,126 people have been confirmed dead during the protests, of which 5,777 were protesters. Another 17,091 deaths are still under investigation, HRANA added.
In addition, authorities have arrested 41,880 individuals in the 30 days of protest activity, HRANA's data showed on Tuesday.
Further, restrictions on internet access have been reported across Iran for at least 18 days, according to NetBlocks.
Islamic Regime plans to reform currency to mitigate inflation
In October, before the currency further depreciated and the nationwide protests were triggered, Iran's parliament approved a plan to remove four digits from the currency to combat inflation amid sanctions on the Islamic Republic, Iran's official news agency IRNA confirmed.
According to Tehran's plan, the Central Bank of Iran will implement changes to the currency's value over the next five years, comprising two years of "preparation" and three years of "implementation," IRNA clarified on Friday.
This will result in both currency values being in circulation for up to three years, with the central bank given two years to launch the transition, Agence France-Presse reported.