The currency's upward trend continues; the dollar exceeded 19,000 tomans.
The dollar exchange rate, continuing its upward trend in recent days, has exceeded 19,000 tomans in Iran's unofficial market.
According to Iranian domestic news agencies and some news sites, on Wednesday, October 25, the price of one US dollar in the Tehran market started at 17,000 tomans and exceeded 19,000 tomans by the afternoon.
This is while some journalists have written from their observations of the Tehran currency market that when the dollar was around 18,000 tomans, some buyers were looking to buy dollars even at a price of more than 19,000 tomans.
ISNA also wrote that buying and selling in the market was mostly done by speculators, and the exchange rate continued to rise even though exchange offices were either partially closed or had turned off the price boards and were not conducting any transactions.
According to these reports, each gold coin, which was sold for about 4.7 million tomans on Tuesday, reached about 5.3 million tomans on Wednesday.
The euro was also on an upward trend and traded at 21,000 tomans on Wednesday.
At the beginning of the current trend of increasing exchange rates in October last year, each US dollar was selling for around 3,500 Tomans.
Some experts believe that the US withdrawal from the JCPOA and the announcement of the return of sanctions on Iran are the reason for the sharp increase in the exchange rate, while the dollar rate had more than tripled before the return of the first phase of US sanctions in August of this year.
On the other hand, the Central Bank's policies following the exchange rate increase also drew strong criticism from experts, and eventually the government changed the Central Bank Governor in recent months and announced new exchange rate policies. Members of parliament also impeached and dismissed the Minister of Economy.
Source: Voice of America
