Many businesses were forced to halt work amid the uncertainty created over prices and the availability of imported materials.
"We need hard power".
Iranians stand in front of a currency exchange shop to check currency rates, in downtown Tehran, Iran, Tuesday, April 10, 2018.
Iran has long had trouble managing its currency market.
One senior administration official said Trump would be open to remaining in a modified deal if it were made permanent. Authorities arrested scores of traders whom it blamed for deliberately driving the devaluation in order to profit from it.
Adelle Nazarian is a politics and national security reporter for Breitbart News.
Since previous year, the central bank has loosened its reins on the rial to allow it to depreciate gradually to counter-balance Iran's high inflation and help make exports more competitive.
But the drop has accelerated in the past few months, creating a problem for authorities who contained a wave of popular protests against economic hardship and corruption in December and January.
Trump's threats regarding the nuclear deal have influenced Iran to consider all possible outcomes, including a JCPOA without the US, but which might still include some European allies, China and Russian Federation.
"The JCPOA would not slow down our progress", he underscored, saying the agreement has promoted Iran's nuclear cooperation with Europe, Russia and China.
The ultimatum puts pressure on Europeans - key backers and parties to the 2015 global agreement to curb Iran's nuclear program - to satisfy Trump, who wants the pact strengthened with a separate agreement within 120 days. "Suffice to say that it will be politically derogatory for Europe to follow the United States policy on the JCPOA unquestioningly, because it would prove that European countries lack independence in their decision-making process", he said.