The price of the dollar in Iran soared to nearly 19,000 Tomans

The price of the dollar in Iran's free market peaked at 18,820 Tomans on Thursday.

Until Sunday of this week, the dollar was below 18,000 tomans, but its price has increased in recent days.

The dollar price at the beginning of this year was around 16,000 Tomans, while at the beginning of 2018, before the US sanctions against Iran, it was 4,700 Tomans.

Apart from US sanctions, the significant increase in liquidity in the country has also caused a decline in the value of Iran's national currency and increased inflation.

The Central Bank of Iran reported on Monday that the volume of liquidity in March 2019 grew by more than 31 percent compared to the same period in 2018, reaching 2,472 trillion tomans. Liquidity has increased by almost 2.5 times compared to 2015.

The Central Bank also says that public sector debt to banks grew by about 20 percent last solar year, peaking at 400 trillion tomans. This figure was about 174 trillion tomans in 2015.

The price of the Bahar Azadi coin also increased by more than 2% on Thursday, reaching 7 million 550 thousand tomans.

The price of the Bahar Azadi coin in Farvardin this year was about 6 million tomans, and at the beginning of Farvardin 2018 it was about 1.5 million tomans.

Last Wednesday, Abdolnaser Hemmati, the governor of the Central Bank of Iran, claimed stability in the foreign exchange market.

He said: "Currently, the increase in the exchange rate has been prevented and will be gradually adjusted."

Recently, the Central Bank of Iran issued a directive stating that transporting and storing currency (banknotes) in excess of 10,000 euros or its equivalent is prohibited for individuals without a credit institution document, Senate receipt, and customs declaration.

Source: Radio Farda