The Iranian currency has collapsed sharply, falling to 116,700 tomans against the dollar.
The Iranian currency has collapsed sharply, falling to 116,700 tomans against the dollar.
2025-10-01 05:42
Shafaq News – Tehran
The US dollar exchange rate rose to around 116,700 tomans on the Iranian free market on Wednesday, reaching one of its highest levels in recent months amid ongoing economic pressure and Western sanctions.
Traders say the increased demand for hard currency is driven by several factors, most notably fears of tightening US sanctions and the reactivation of European sanctions, the lack of concrete solutions to the foreign liquidity crisis, and high inflation, which is weakening the purchasing power of the local currency.
Analysts add that domestic and regional political tensions have contributed to increased demand for the dollar as a safe haven, at a time when the central bank is struggling to control speculation and curb the toman’s rapid decline.
Iran has been under sustained pressure on its economy for years due to US sanctions, particularly on oil exports and remittances, while rising global commodity prices have exacerbated living conditions within the country.
In a pessimistic scenario, economists predicted a sharp rise in the exchange rate to 165,000 tomans, and inflation to rise to 90%.
shafaq.com
