Iranian Toman Collapses to New All-Time High Against Dollar

The value of the Iranian toman has hit an all-time high against the US dollar in the free market, reaching nearly 200,000 tomans. According to data from the Iranian Gold and Currency Information Network, the exchange rate on Sunday traded near 198,000 tomans, with some platforms recording selling prices just shy of 200,000 tomans.

This rapid increase comes after the dollar began trading last week at around 186,500 tomans, a gain of over 6% in less than a week. The surge has put the toman at a crossroads, testing its psychological barrier for the first time in history.

Traders and analysts attribute this collapse to a combination of factors, including runaway inflation, increased demand for foreign currencies as a safe haven, and a decline in foreign exchange inflows. The ongoing US sanctions and political uncertainty are also contributing to market panic.