🔶 Dollar passes the 240,000 toman mark

Iran’s unofficial (free) currency market on Sunday, 7 Mehr, saw a fresh record. The dollar crossed the 240,000 toman mark, while the euro and the British pound also reached unprecedented levels.

Based on the rates announced in the free market, today the dollar rose above the level of 240,000 toman; a threshold, from the perspective of traders, is not merely a psychological figure, but an indication that the rial’s value decline has been accelerating in recent weeks.

At the same time, the euro rose to around 274,000 toman, and the British pound was traded up to 318,500 toman.

This increase comes as, in recent weeks, the currency market has set new ceilings several times and the gap between new records has been getting shorter.

The latest rise in exchange rates is not limited only to domestic economic pressures. Market participants say that uncertainty about the future of negotiations between Iran and the United States, the situation in the Strait of Hormuz, and the continuation of military and sanctions pressure have reinforced negative expectations about the rial’s value.

In recent days, Tehran has put forward proposals aimed at ending the war, reducing military pressure, and reopening the Strait of Hormuz.