Dollar Price in Iran Reaches Near 19,000 Tomans
The dollar price in Iran’s free market reached 18,820 tomans on Thursday.
Until Sunday of the current week, the dollar price was below 18,000 tomans, but it has increased over the past few days.
The dollar price at the beginning of the current year was also around 16,000 tomans, while at the beginning of 1397 (2018), before U.S. sanctions against Iran, it was 4,700 tomans.
Apart from U.S. sanctions, a significant increase in liquidity in the country has also caused the depreciation of Iran’s national currency and increased inflation.
The Central Bank of Iran reported on Monday that the volume of liquidity in Esfand 1398 (March 2020) grew by more than 31 percent compared to the same period in 1397, reaching 2,472 trillion tomans. Liquidity has nearly doubled compared to 1394 (2015).
The Central Bank also stated that the government sector’s debt to banks in the past solar year grew by around 20 percent, reaching 400 trillion tomans. This figure was approximately 174 trillion tomans in 1394.
The price of Bahar Azadi coin also reached 7 million and 550 thousand tomans on Thursday with an increase of more than 2 percent.
The price of Bahar Azadi coin in Farvardin of this year was around 6 million tomans and at the beginning of Farvardin 1397 was around 1.5 million tomans.
Last Wednesday of the past week, Abdolnasser Hemmati, Governor of the Central Bank of Iran, claimed stability in the foreign exchange market.
He said: “Currently, the increase in currency prices has been stopped and is gradually being adjusted.”
Recently, the Central Bank of Iran announced through a circular that carrying and storing foreign currency (banknotes) exceeding 10,000 euros or its equivalent for individuals without documentation from a credit institution, Senate receipt, and customs declaration is prohibited.
Source: Radio Farda
