Iranian authorities have introduced new guidelines for individuals seeking to purchase US dollars through banks as sanctions continue to strain the country's financial system.

The latest instructions issued to banks and currency exchange offices allow customers to buy a maximum of $10,000, subject to a daily limit of $1,000, The Caspian Post reports, citing Al Jazeera.

Those seeking smaller amounts can use their bank cards and national identity cards to apply for and receive between $100 and $1,000.

The sale of US dollar banknotes at the officially set exchange rate continues at selected bank branches and currency exchange offices. Applicants can purchase foreign currency by submitting requests through designated systems.

As of October 22, the US dollar was trading at 262,000 Iranian rials, or tomans, compared with approximately 135,000 tomans at the beginning of the year.