A new collapse hits the Iranian toman
A new collapse hits the Iranian toman
2025-03-25 04:42
Shafaq News/ The Iranian currency recorded a new and unprecedented decline against the US dollar on Tuesday, exceeding the one million toman barrier to the dollar, amid growing fears of the repercussions of tightening US sanctions on Tehran .
The Bonbast website, which tracks exchange rates, reported that “the Iranian currency fell to 1,039,000 tomans against the dollar, its lowest level ever, reflecting the increasing economic pressures on the country.”
This sharp decline comes at a time when traders see no immediate solution to economic sanctions, with US President Donald Trump resuming his “maximum pressure” policy on Iran .
The Iranian currency has lost more than half its value since President Masoud Pezeshkian took office last year, reflecting the country’s worsening economic challenges .
Earlier this month, Trump said he had sent a letter to Supreme Leader Ali Khamenei regarding Iran’s nuclear program, stating that Tehran had two options: “negotiation or military confrontation.”
However, Khamenei rejected Washington’s call for dialogue, describing it as “deceptive.” Iranian Foreign Minister Abbas Araghchi asserted last week that negotiations with the United States are not possible unless Washington changes its policy .
The Iranian currency was trading at around 55,000 tomans to the dollar in 2018, when the Trump administration, during his first term, imposed harsh sanctions on Tehran, targeting its oil exports and access to foreign currency .
With Trump’s return to the White House, Washington imposed four additional rounds of sanctions on Iranian oil sales, further straining the Iranian economy and exacerbating the currency crisis .
shafaq.com
