Trump Sanctions Send Iranian Currency to Biggest Collapse in 46 Years
Trump Sanctions Send Iranian Currency to Biggest Collapse in 46 Years
2025-02-08 07:03
Shafaq News/ Iranian markets witnessed a record collapse of the local currency, the largest in 46 years, as the price of the US dollar jumped by 3,000 tomans to reach 89,000.
This decline comes in light of US President Donald Trump’s reinstatement of the “maximum pressure” policy against Tehran last Tuesday, which exacerbated the economic crisis and directly affected the foreign exchange market and gold prices, and was followed by the US Treasury imposing sanctions on Iranian oil exporters.
Gold prices have also seen a significant rise in Iran amid these fluctuations.
According to exchange centers, the price of the euro reached 91,200 tomans, while the price of the British pound reached 111,800 tomans, which represents the biggest collapse of the Iranian currency since 1979 against the US dollar .
It is noteworthy that at the beginning of the current Iranian year, on March 21, 2024, the price of the dollar was around 61,000 tomans, reflecting a rapid deterioration in the value of the currency within a short period .
shafaq.com
