Iranian Rial Plummets as Dollar Hits Record High and Gold Soars
The Iranian rial has continued to plummet against major currencies as gold prices surge in the country's market. The US dollar reached 213,770 Tomans on Tuesday, September 1, 2026, while the euro climbed to 247,890 Tomans and the British pound rose to 289,250 Tomans.
The price of gold also skyrocketed, with the cost per gram of 18-karat gold reaching 22,074,000 Tomans. The Emami gold coin traded at 220,500,000 Tomans, while the Half Coin was priced at 113,000,000 Tomans and the Quarter Coin at 61,700,000 Tomans.
The Central Bank of the Islamic Republic of Iran attempted to inject liquidity into the market by making $500 million in physical banknotes available through the banking network. However, individual buyers purchased only about $20 million during the first three days of the plan, leaving roughly $480 million unclaimed.