The free fall of the value of Iran's national currency continues; the dollar reached the mark of 26,000 Tomans
Reports from the Iranian currency market indicate that the depreciation of the Iranian national currency continues, with the price of one US dollar reaching 26,000 Tomans.
Iranian media reported that in the early hours of Sunday, July 19, each US dollar was sold for 25,920 tomans, an increase of 870 tomans compared to the previous day, and each euro was sold for 29,200 tomans.
This comes after Central Bank Governor Abdolnaser Hemmati announced on July 5 that the central bank would implement “targeted intervention” in the foreign exchange market to control prices. He had previously described recent currency market fluctuations as “transient and temporary shocks.”
Some social media users have also reported that each US dollar is being traded at 26,000 tomans on exchanges.
The continuing devaluation of Iran's national currency comes at a time when dissatisfaction among various trades with the economic situation has increased, including workers who have been holding protest rallies for months to protest their economic situation and arrears of wages.
Iran is under severe economic sanctions from the United States. American officials say they will continue to impose sanctions until Iran behaves like a normal country and stops supporting terrorist groups.
The United States withdrew from the JCPOA after President Trump took office, declaring that the nuclear deal had failed to prevent the destabilizing activities of the Islamic Republic, the world's largest state sponsor of terrorism.
Source: Voice of America
