The dollar in Iran reached 27,000 tomans; gold coins 13 million tomans
The price of one US dollar in the Iranian free market broke another record on Sunday, September 13, reaching 26,950,000 Tomans, an increase of about 1,000 Tomans compared to the previous day.
The price of the US dollar at the beginning of this solar year was 16,000 Tomans.
The dollar price reached about 26,000 tomans in July of this year, but the Central Bank announced that it had injected billions of dollars into the market, and eventually the dollar price fell to 21,000 tomans for a short time, and then rose again with ups and downs.
Since the beginning of this week, the dollar price has been rising at a faster pace.
According to Abdolnaser Hemmati, the head of the Central Bank of Iran, $280 billion in foreign exchange has been injected into the market over the past 15 years. This means an annual injection of $18 billion in foreign exchange to control the market.
However, it seems that given the 40% drop in non-oil exports and the collapse in the Islamic Republic's oil revenues, the Central Bank of Iran does not have the capacity to inject more foreign exchange into the market to maintain the value of the rial.
Also, the price of the Bahar Azadi coin reached 11.7 million tomans today, an increase of 100 thousand tomans compared to the previous day.
The price of the Emami coin increased by more than three and a half percent, reaching about 13 million tomans. However, the price of half coins, quarter coins, and grammy coins increased by about seven percent on Sunday compared to the previous day.
Meanwhile, the Tehran Stock Exchange's overall index experienced a decline of more than 5,500 points on Sunday.
The stock market index was around half a million points at the beginning of this year, but while the country's economy is in a critical state, it broke the record of 2 million points in mid-August. Many experts had reported government manipulation of the stock market and the existence of a bubble in it.
Since then, the Tehran Stock Exchange index has suffered severe falls, reaching 1,578,000 points on Sunday.
Source: Radio Farda
