The Iranian rial weakened further Thursday, with the dollar crossing the 220,000 toman threshold in Tehran's free market and reaching 221,000 toman in some transactions, according to The Zioneer.
The Iranian rial continued its slide Thursday, with the dollar crossing 220,000 toman in Tehran's free market and reaching 221,000 toman in some transactions, according to The Zioneer. The level remains near the record low of 222,000 toman set on Wednesday, reflecting sustained pressure from US sanctions and economic isolation.
The Zioneer has tracked the rial's decline over recent weeks. On Monday, Aug 31, the currency fell to 2.1 million rials (210,000 toman) per dollar. By Wednesday, Sep 2, it had dropped to 2.2 million rials (220,000 toman) in morning trading, then crashed to 2.22 million rials (222,000 toman) by midday — a new record low — according to market data tracked by Abu Ali Express and N12. Today's level, while slightly above that low, marks continued weakness.
As The Zioneer reported on Aug 24, the rial had already crossed the 2 million rials threshold, and US Treasury Secretary Scott Bessent signaled a "final phase" of financial warfare against Tehran. The currency has been in freefall since July, when it neared 190,000 toman, and President Trump claimed credit for destroying the currency. The ongoing depreciation is driven by sanctions targeting Iran's banking system and oil exports, as well as a naval blockade restricting trade.
It remains unclear whether the rial will stabilize or continue its decline. The market remains highly volatile, with merchants reporting pricing chaos. Further US sanctions are expected, and the impact on Iran's economy and internal stability continues to unfold.
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