Iran: Dollar nears 274,000 tomans amid record inflation
Iran: Dollar nears 274,000 tomans amid record inflation
2026-10-22
Shafaq News – Tehran
The Iranian toman continued its decline against the US dollar on Thursday, with the price of the US currency rising in the free market to about 274,000 tomans, amid continued economic pressures, US sanctions and worsening inflation rates.
According to a monitoring report by Shafaq News Agency, the selling price of the dollar during Thursday’s trading reached about 273,700 tomans, an increase of 3,900 tomans from the previous day, and an increase of 1.45%.
The new rise comes as an extension of a wave of sharp decline in the value of the Iranian currency during the past months, driven by the repercussions of the military confrontation with the United States and Israel, restrictions imposed on oil exports, along with a decline in foreign currency inflows and a rise in demand for the dollar and gold as havens to protect savings from inflation.
The Iranian Central Bank announced at the beginning of October that it would begin injecting up to $2 billion through state-owned banks to support the local currency and reduce fluctuations in the exchange market.
In conjunction with the currency crisis, data from the Iranian Statistics Center revealed that the annual inflation rate reached 73.6% during last September, while the increase in consumer prices compared to the same month of the previous year reached 89.8%, reflecting the widening living pressures and the erosion of families’ purchasing power.
shafaq.com
