Dollar exchange rate hits record high in Iran: Toman hits rock bottom
In Iran's free market, the dollar/Toman exchange rate has hit a record high, reaching the 240,000 Toman level. The Toman's depreciation comes at a time when annual inflation has reached 61.4 percent and the increase in food prices has hit 128.1 percent.
The dollar exchange rate has reached a new peak in Iran's free market. According to data from pashizi.com, which monitors the country's foreign exchange market, the dollar's selling rate has risen to the 240,000 Toman level.
This level marks the lowest value in history for the Iranian currency, the Toman, against the dollar in the free market. The currency movement was recorded at a time when the country's economy is facing high inflation and the pressure of sanctions.
According to official data, annual inflation in Iran has reached 61.4 percent. The annual increase in food prices was announced as 128.1 percent.
In the Iranian economy, which is under the influence of US sanctions, the rise in exchange rates and basic consumer goods is further increasing the cost-of-living pressure on households.
News Source: 12punto
Most Read
Release decision for Deniz Göktaş
Car and bus collide head-on in Gaziantep
Downpour hits Istanbul, Bursa, and Ankara
Asset freeze for 42 people in fund investigation
Ağıralioğlu's statement on presidential candidacy
Mustafa Sandal issues statement following asset freeze order on his wife
New claim regarding Adil Öksüz, a key figure of July 15
Aziz Yıldırım reveals Fenerbahçe's transfer debts
Destek Yatırım Bankası General Manager in custody
Authorization granted to the board for 9 projects at Fenerbahçe