New Record: Coin Price Surpassed 3 Million Tomans
A five percent price increase in one day. Coin prices in Tehran’s market have crossed the 3 million toman threshold. The rise in coin prices in the market is occurring in parallel with an unprecedented surge in foreign currency prices; a situation that has resulted in widespread public dissatisfaction.
The economic section of the “Khabar Online” website reported on Thursday, Tir 7 (June 28), another increase in coin prices in Iranian markets.
According to this report, the price of each Bahar Azadi coin has reached over three million tomans with an increase of approximately 140,000 tomans.
The price of each gram of 18-carat gold has surpassed the 246,000 toman mark. Meanwhile, the price of each half coin has also approached the 1.5 million toman threshold.
Foreign Currency Prices
The dollar price in domestic markets is unclear. The government has spoken of a “negotiated rate” for the dollar, an exchange rate that should, alongside the official rate, regulate dollar buying and selling in the country’s markets.
The Central Bank and officials of the Islamic Republic have provided no further clarification regarding this negotiated rate, and it is not even clear how much higher this rate is than the official rate of 4,200 tomans.
The official announcement of the dollar rate by the Central Bank not only failed to prevent the increase in dollar and other foreign currency prices in Iran’s market, but rather intensified further confusion in Iran’s currency markets.
The dollar price has even reached the 10,000 toman mark in recent days. This has resulted in the dissatisfaction of many market traders in Tehran and other cities.
Based on official news releases, the price of each euro on Thursday, Tir 7 was approximately 9,700 tomans, and each British pound was also traded at around 11,000 tomans.
Source: DW
