Iranian Toman Hits Record Low Against US Dollar
The Iranian toman has hit a new low against the US dollar on Saturday, according to data from Bonbast, which tracks Iran's free-market exchange rates. By midday, the dollar sold for 267,100 tomans and was bought at 265,519, up 2.06% from the day's opening rate.
The Iranian currency has been weakening against the US dollar in recent days, with the current rate being a new low on Tehran's open market. One toman equals 10 rials, making it a significant drop for the local economy.