Dollar approaches 200,000 tomans in Iran

Shafaq News- Tehran

The US dollar neared 200,000 tomans in Iran's free market on Sunday, setting a new record as strong demand for foreign currency and concerns over fresh US sanctions pushed the Iranian rial to another low.

The dollar traded at around 198,000 tomans, according to Iran's gold and currency information network, TGJU. Other free-market listings put the selling price close to 197,950 tomans, compared with roughly 195,950 tomans for buying. The dollar started the week at around 189,700 tomans, rising about 4.4% in less than seven days.

The dollar had fallen to around 153,000 tomans on June 17 after Tehran and Washington reached a preliminary understanding to end nearly six months of war. It has since recovered much of that decline, surpassing 191,000 tomans in July.

US President Donald Trump on Thursday launched a new push to isolate Iran economically, describing it as the “most crushing economic operation ever taken against any country.”

One toman = 10 Iranian rials.