Dollar Rate Falls Below 11,000 Tomans in Iran
Reports from foreign exchange price announcement websites in Iran indicate that the price of the U.S. dollar in currency exchange offices fell below 11,000 tomans at noon on Tuesday, September 5th.
The current selling price of the dollar in exchange offices is reported at 10,995 tomans, which represents a decrease of approximately 1.8 percent compared to the previous day.
The dollar price in the early days of Mordad month was above 12,000 tomans, and in Farvardin 1398 (March-April 2019) it was around 15,000 tomans.
Last week, Abdolnaser Hemmati, Governor of the Central Bank, said in an interview with the American network “NBC” that in late Shahrivar of last year the exchange rate rose to very high levels (above 18,000 tomans), and just when the main and final phase of American sanctions began, the strengthening of our national currency also started, and over the past eight months our national currency has again “strengthened by 40 percent”.
Mr. Hemmati’s claim about the 40 percent strengthening of the rial’s value is related to comparison with prices from a few months ago; otherwise, compared to Ordibehesht of last year when America withdrew from the JCPOA, the value of the rial against the dollar has decreased by more than half.
He said that currently we have control over the exchange rate and relative stability has been established in the currency market.
The price of the U.S. dollar rose from around 3,700 tomans in Farvardin 1396 (March-April 2017) to around 4,800 tomans in Farvardin 1397 (March-April 2018), and with America’s withdrawal from the JCPOA, it increased sharply.
Source: Radio Farda
