Iranian currency falls to 105 under snapback
Iranian currency falls to 105 under snapback
2025-09-21 01:11
Shafaq News – Tehran
The Iranian currency fell again on Sunday, breaching 105,000 tomans to the dollar on the unofficial market, a record low reflecting the increasing pressure on the Iranian economy amid the reimposition of international sanctions.
According to platforms that track exchange rates, the US dollar in cash in Tehran was trading at approximately 105,000 tomans. Gold prices also rose in parallel, with the price of 18-karat gold coins and gram gold soaring to new highs.
The currency’s decline comes days after European powers (Britain, France, and Germany) announced the activation of the “snapback” mechanism to reimpose UN sanctions on Tehran, accusing it of failing to comply with the restrictions of the nuclear agreement.
The move raised deeper concerns about Iran’s oil exports and the potential for restrictions on its financial transactions, prompting traders and citizens to turn to the dollar and gold as safe havens.
It’s worth noting that the Iranian economy is already suffering from high inflation and slowing growth, while experts warn that a continued downturn could lead to a new wave of inflation and a decline in citizens’ purchasing power.
shafaq.com
