Dollar Reaches 12,000 Tomans Amid Security Climate Around Tehran Market

As the price of the US dollar in Tehran's unofficial market approaches 12,000 tomans, reports indicate a security atmosphere in currency and coin trading areas in Tehran. Meanwhile, the spokesperson for the judiciary has announced the arrest of over 29 individuals on charges of 'economic disruption.' Several media outlets, including ILNA news agency, reported on Tuesday, August 8, that each dollar is being traded between 11,100 to 11,300 tomans. However, unofficial media, including social networks, have reported that the dollar price has reached 12,000 tomans. Additionally, it has been reported that the gold and coin market in Sabzeh Meydan and Ferdowsi Square in Tehran witnessed the presence of security forces on Tuesday. ISNA news agency noted a price of 4.5 million tomans for each gold coin and reported 'the presence of security forces throughout 15 Khordad Street,' while ILNA mentioned the police's efforts to disperse dealers 'in Ferdowsi Street and especially in Monouchehri Street.' Tasnim news agency cited the price of coins as close to 4,600,000 tomans and reported the arrest of coin and currency dealers according to 'market activists.' The news of the arrest of several dealers by 'plainclothes officers' has also been reflected in several unofficial media outlets on social networks, with images and videos of police presence in gold and currency trading centers in Tehran being published. The renewed surge in the price of currency and gold in Iran began last week, with the dollar reaching a historic record of 10,000 tomans for the first time on Sunday. Following the US withdrawal from the JCPOA, a new round of US sanctions against Iran is set to be implemented starting next Saturday, August 13. However, the head of the Iranian judiciary stated that the source of the recent turbulence in the currency and coin market is 'not real.' According to Mizan news agency, Sadegh Amoli Larijani emphasized in a meeting with senior judicial officials that the government has guaranteed the provision of currency for essential goods and that 'there is no problem in this regard,' calling the turbulence in the currency and coin market 'suspicious' and likely orchestrated by 'some unclean hands behind the scenes.' The head of the judiciary also stressed 'zero tolerance for economic corruptors and financial market disruptors,' stating: 'In some cases, their actions fall under the title of corruption on earth.' Simultaneously, the spokesperson for the judiciary announced the arrest of 29 individuals on charges of 'economic disruption.' Gholamhossein Mohseni Ejei told reporters after the meeting of senior judicial officials that by Sunday evening, 29 'economic disruptors' had been arrested, including 'individuals from the Ministry of Industry, Mine and Trade and the Trade Development Organization.'