Foreign exchange crisis in Iran's economy: US Dollar breaks record, exceeding 226,000 tomans
Amid the deepening foreign exchange crisis in Iran, the US Dollar has refreshed its record, reaching the level of 226,200 tomans, while the toman has lost more than 45 percent of its value over the past six months.
As the deepening foreign exchange crisis continues in Iran's economy, the US Dollar saw the 226,200 toman level in the Tehran market, setting a new record. The national currency, the toman, has depreciated by 45.52 percent over the last six months.
New Record in the Tehran Market
Gaining 2.21 percent in value on the first day of the week, the US Dollar reached 226,200 tomans in the Tehran free market. The sudden jump of 4,900 tomans in the market showed that the upward trend in exchange rates continues without slowing down.
Supply and Demand Balance Disrupted
Tehran currency traders state that buying appetite in the market has peaked, but no one wants to sell the dollars they hold. Sellers taking a wait-and-see approach in anticipation of even higher exchange rates has completely disrupted the supply-demand balance.
Six-Month Depreciation Rate
While statistics lay bare the melting of the toman, the dollar has gained 9.31 percent in value over the past week. In the last six-month period, the loss of the toman against the dollar has reached the 45.52 percent level.
Central Bank Interventions
Although the Central Bank of Iran, upon which eyes are turned, injecting official foreign currency into the market provided short-term relief, analysts emphasize that these interventions will remain temporary as long as political tensions persist.
Future Expectations and Levels
Economists evaluate 225,000 tomans as a critical support point. They forecast that if the exchange rate stays above this level, 230,000 tomans could be tested, whereas a pullback might be experienced with a potential diplomatic easing.