Dollar rate drops below 11,000 Tomans in Iran
Reports from foreign currency price announcement sites in Iran indicate that the price of the US dollar in exchange offices dropped below 11,000 tomans at noon on Tuesday, September 25.
The current selling price of the dollar at exchange offices is reported to be 10,995 Tomans, which represents a decrease of about 1.8 percent compared to the previous day.
The dollar price was above 12,000 Tomans in the early days of August and around 15,000 Tomans in April 2019.
Last week, Abdolnaser Hemmati, the Governor of the Central Bank, said in an interview with the American network NBC that in late September of last year, the exchange rate increased to very high figures (above 18,000 Tomans), and just when the main and final stage of US sanctions began, the strengthening of the value of our national currency also began, and over the past eight months, the value of our national currency has again "strengthened by 40 percent."
Mr. Hemmati's claim about the rial's 40% appreciation is related to a comparison with prices a few months ago. Otherwise, compared to May of last year, when the United States withdrew from the JCPOA, the rial's value against the dollar has decreased by more than half.
He said that we currently have control over the exchange rate and relative stability has prevailed in the foreign exchange market.
The price of the US dollar rose from about 3,700 Tomans in April 2017 to about 4,800 Tomans in April 2018, and soared sharply with the US withdrawal from the JCPOA.
Source: Radio Farda
