Governor of the Central Bank of Iran (CBI) announced that the country plans to establish a secondary currency market in coming days as the Iranian rial has plunged to an all-time low against the US dollar.

Speaking to reporters on the sidelines of a meeting with parliamentarians in Tehran on Monday, Valiollah Seif said a detailed plan for the secondary foreign exchange market has been devised.

The creation of this market will prevent the creation of indefinite rates offered by unauthorized brokers, he said.

The head of the CBI added that a system is going to be developed to identify all goods and commodities that have been imported using US dollars at a rate of 42,000 rials.

Seif went to say that with the implementation of this system, importers of those goods cannot sell them at higher prices.

The Iranian rial, once again, plunged to a record low against the US dollar on the unofficial market on Sunday.

The collapse of the national currency has provoked a public outcry over the quick rise of prices of imported consumer goods.