Exchange Rates in Iran Rise Again
According to reports, exchange rates in Iran’s unofficial market have risen once again.
On Sunday, September 11, the U.S. dollar approached the 12,000 toman mark, the euro surpassed 13,000 tomans, and the British pound traded at more than 15,000 tomans.
In the free market, a full coin of the new design freedom pattern was traded at approximately 4 million and 400,000 tomans.
The sharp increase in exchange rates in Iran several months ago caused unrest and protests among bazaar merchants. Each U.S. dollar increased from 3,700 tomans in September of last year, coinciding with announcements of a possible U.S. withdrawal from the JCPOA, to approximately 11,000 tomans in early August of this year.
The government announced it would unify the exchange rate, but in practice, the 4,200 toman dollar was only available to certain individuals close to the government for imports, and cases of misuse have also been reported in this regard.
Nevertheless, Iran’s judicial system, in cooperation with the Rouhani administration to control the currency and gold markets, has so far arrested dozens of people in connection with cases involving currency, coins, and automobiles.
Source: Voice of America
