The Iranian Toman collapses to an unprecedented level
The Iranian Toman collapses to an unprecedented level
2021-11-12 07:47
Shafaq News/ The US dollar exchange rate continued to rise in the Iranian free market and reached unprecedented levels since Iranian President Ibrahim Raisi took office; To reach 28 thousand and 500 tomans.
The rise in the value of the dollar comes despite the fact that on October 17, Iranian President Ibrahim Raisi called on the Central Bank and the Ministry of Economy to stop the growth of the exchange rate and the devaluation of the riyal, which experts say does not come by issuing orders and has its own mechanisms.
Officials in Iran did not say the reason for the sharp rise in the value of the dollar, but the country’s treasury stated a few months ago that only “three percent” of oil revenues were generated in the spring of this year.
According to a report by Hassan Rouhani’s government’s Planning and Budget Organization, by 2026, if sanctions continue, the dollar will peak at 284,000 tomans, and average annual inflation will reach 54 percent.
shafaq.com
