Iran’s currency falls beyond 124K per dollar

Shafaq News – Tehran

Iran’s currency extended its slide on Monday, with the toman—worth 10 Iranian rials—weakening beyond 124,000 per US dollar as mounting inflation, renewed international pressure, and surging market speculation continued to erode public confidence.

According to currency-tracking platforms, the toman was trading at 124,800 per dollar, 145,450 per euro, and 166,500 per British pound. Just two days earlier, the currency stood near 122,150 per dollar after breaching the psychological 120,000 threshold for the first time—marking an accelerating pace of depreciation.

The latest drop follows weeks of sharp gains across Iran’s currency, gold, and financial markets, where prices have repeatedly hit record highs, setting off a new inflationary cycle.

Economic anxiety has intensified in recent months as runaway inflation and the surge in foreign exchange prices have raised fears of deeper instability. Those concerns have been further fueled by the return of UN sanctions and official confirmation that Tehran will continue its nuclear program.

Over the past year alone, prices of basic food staples in Iran have jumped by more than 66%, adding growing pressure on household incomes and living costs across the country.