The US dollar has crossed 270,000 toman in Tehran's open market, according to market reports, as the Iranian rial continues its historic decline amid international sanctions and economic pressure.
The US dollar has crossed 270,000 toman in Tehran's open market, according to market reports cited by The Zioneer, with analyst Mordechai K. noting shock in the financial markets.
The Iranian rial has weakened steadily in recent months. The Zioneer previously reported the dollar reaching 240,500 toman (September 28), 227,000 toman (September 11), and 195,000 toman (July 20) in the open market.
The ongoing depreciation occurs against the backdrop of intensified US financial sanctions and a naval blockade that has restricted Iranian trade, as previously covered by The Zioneer.
2 developments
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