In the final days of the year that Khamenei called the year of 'controlling inflation', the US dollar entered the 60,000 toman range, and the price of each gold coin reached a historic record of 37 million 700 thousand tomans. According to gold and currency information websites, on Saturday, March 16, in Iran, the dollar was traded at 60,200 tomans and the British pound at 76,600 tomans. In the gold market, despite a 9-dollar drop in the global gold price per ounce, the price of the Bahar Azadi coin reached 37 million 700 thousand tomans, the half coin reached 22 million 500 thousand tomans, and each quarter coin reached 13 million 750 thousand tomans. The dollar price, which began its upward trend at the beginning of Bahman (January 21), has been setting new records in the market every day since the parliamentary elections held on March 2. Meanwhile, reports indicate that the Central Bank of the Islamic Republic auctioned coins at a dollar rate of 93,000 tomans, and due to public interest, a second auction was held at a dollar rate of 100,000 tomans. The Minister of Economy of the Islamic Republic recently stated, 'We do not recognize the current dollar rates.'
Dollar Exceeds 60,000 Tomans; Gold Coin Approaches 38 Million Tomans
The US dollar has surpassed 60,000 tomans, and gold coin prices have reached historic highs in Iran. This surge follows recent parliamentary elections and reflects ongoing economic instability. The Central Bank's interventions have not stabilized the currency, raising concerns about inflation and public discontent.
👥 Key Players
📰 What Happened
The US dollar has surpassed 60,000 tomans, and gold coin prices have reached historic highs in Iran, indicating severe economic instability. This surge follows recent parliamentary elections and reflects ongoing inflationary pressures.
- The dollar was traded at 60,200 tomans and the British pound at 76,600 tomans.
- Gold coin prices reached 37 million 700 thousand tomans despite a drop in global gold prices.
💡 Why It Matters
📚 Background
Iran has faced significant economic challenges, including high inflation and currency devaluation, exacerbated by international sanctions and domestic mismanagement. The economy's reliance on oil revenues makes it vulnerable to global market fluctuations.
🏷️ Entities Mentioned
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