Continuing the steep decline of the Iranian rial, the U.S. dollar surpassed the 234,000-toman mark in Iran’s free market on Thursday, September 10. Concurrently, rates for the euro, British pound, gold, and gold coins recorded significant increases.
The U.S. dollar, which had reached 232,700 tomans the previous day, rose 0.64% in Thursday’s early trading to hit 234,190 tomans. A subsequent update published by Donya-e-Eqtesad at 2:37 PM recorded the dollar at 234,740 tomans.
In the open market, the euro was quoted at 273,040 tomans, while the British pound reached 318,000 tomans.
Alongside foreign exchange increases, 18-karat gold rose to 24,238,000 tomans per gram, and the Imami gold coin reached 241,010,000 tomans.
The sharp upward trend in foreign currency and gold markets accelerated following the escalation of the U.S. economic pressure campaign, dubbed “Operation Economic Rejection,” alongside the UAE’s suspension of financial and commercial transactions with Iran. These developments have severed major traditional channels for foreign trade and cross-border capital transfers.
Surging exchange rates directly drive up the cost of imports, raw materials, and production, threatening a new wave of inflation across consumer goods and essential services.
Iran’s point-to-point inflation rate had already reached 89% in August, prior to the latest currency depreciation. During the same period, average prices for food and beverages increased by 127.5% compared to August of the previous year.
