The dollar surges in Iran, nearing 180,000 tomans.

Foreign currency prices in Iran’s free market saw a sharp rise on Wednesday, amid a worsening economic crisis and the continued crippling naval blockade of its ports, with the US dollar exceeding 180,000 tomans, marking an increase of nearly 8 percent compared to the previous day.

The jump comes at a time when traders and observers link the decline of the toman to renewed concerns about the repercussions of the war, especially with talk of the fragility of the ceasefire and the possibility of a return to military confrontations, which usually prompts individuals and companies to increase demand for the dollar and gold to hedge against further deterioration.

The exchange rate in Iran is one of the most sensitive indicators of political and security crises, as any external escalation or tightening of sanctions is often quickly reflected in the free market, before its effect is transferred to the prices of imported goods, gold and the cost of living.

Shafaq.com