Iran Currency Hits Record Low Amid Inflation and Sanctions

Tehran's currency has hit an all-time low as the US dollar reached 204,000 tomans on the open market. This represents a 9.4% increase from 186,500 tomans at the beginning of last week.

According to Shafaq News, one toman equals 10 rials, putting today's peak at about 2.04 million rials per dollar. Other currencies like the euro and British pound also saw significant increases, reaching about 238,700 tomans and 279,050 tomans respectively.

The surge in currency value is attributed to a range of factors including inflation and weaker oil sales. The Statistical Center of Iran reported annual inflation of 66% in July, with prices 87.9% higher than a year earlier and food inflation at 128%.