Iranian Rial Craters as US Dollar Surges Past 252k Tomans
The Iranian rial has taken another hit as the US dollar crossed the 252,000-toman threshold on Tuesday, September 29. According to data from Navasan, the US dollar reached 252,600 tomans, while the euro and British pound also surged in price. The Canadian dollar was quoted at 177,950 tomans.
The price of gold and coins has also increased, with 18-karat gold per gram priced at 44,770,300 tomans and the Emami gold coin reaching 249,500,000 tomans. This comes as indirect negotiations between Iran and the United States continue, mediated by Qatar and Pakistan.
Foreign Minister Abbas Araghchi stated that talks regarding the reopening of the Strait of Hormuz have become more serious. However, Donald Trump rejected an Axios report on Monday regarding proposed sanctions relief and the unfreezing of blocked Iranian assets, stating that the US has made no such offer to Iran.