New Record Exchange Rate in Iran’s Market; Dollar Reaches 32,000 Tomans

FCNN EditorJune 8, 2022

0 2 minutes read

Following a new wave of inflation and rising prices that has gripped Iran’s economy, foreign currency prices have also increased, with the US dollar reaching a historic rate of 32,000 tomans on Tuesday.

The latest record in foreign exchange rates in Iran has sparked a wave of concerns.

According to a report on Tuesday, June 7th on the Banbesst website, which reports exchange rates in Iran’s market, the selling rate of each euro in the country’s currency market reached 34,260 tomans.

In this report, the buying price of each US dollar was announced at 31,900 tomans and the buying rate of euro at 34,110 tomans.

Also, each Bahar Azadi coin in Iran is being sold for 14 million and 400 thousand tomans, and half a Bahar Azadi coin for 8 million and 500 thousand tomans.

Meysam Bahrami, an economic journalist, in a tweet stating that he does not intend to “frighten” people, emphasized: “Technical analysts believe that when the price of something goes above its historical ceiling and stabilizes above it, that is when it is supposed to grow!”

Mohammad Jahangard, a Twitter user, in describing the people’s livelihood situation while referring to sanctions, wrote: “My family member’s pension in 2016, when the dollar was 3,200 tomans, was 1 million and 300 thousand tomans. Today, the dollar has become 10 times higher, and of course other goods besides fuel have increased 10 to 30 times, his pension has reached 6 million and 600 thousand tomans, which is a five-fold increase.”

Siamak Qasemi, an economic analyst, also stated: “We are sitting with our hands crossed at one corner of this economy and watching how these gentlemen do not link the economy to politics and sanctions! Iran’s file has once again been placed on the path of the Board of Governors and the Security Council with sanctions upon sanctions, and dollar fluctuations, instability, and uncertainty have overtaken the economy and the country.”

The increase in foreign exchange rates in Iran’s market comes as economic protests have resumed, and on Tuesday for the second consecutive day, retirees and social security beneficiaries took to the streets in 18 cities and accused the government and parliament of lying.

Simultaneously, the United States, Britain, Germany, and France have submitted a draft resolution to the Board of Governors of the International Atomic Energy Agency in which Iran is criticized for failing to fully respond to questions from the organization regarding uranium particles found at undeclared sites.

Naftali Bennett, Prime Minister of Israel, has also said that his country expects the Board of Governors to issue a “clear warning sign” to the “Tehran regime and make clear that if they continue their nuclear policy defiance, they will pay a heavy price.”

Meanwhile, Ebrahim Raisi has instructed several government agencies to follow up on the provision and reserve of “strategic” essential goods.

Source: Voice of America

FCNN Editor

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