Gold Coin Prices in Iran Exceed 96 Million Tomans; US Dollar Approaches 100 Thousand Tomans

Reports from the currency and gold market in Iran indicate that the price of each 'Imami' coin reached a new record of 96 million and 500 thousand tomans on Tuesday, March 28. This price increase comes after news agencies reported the previous day that the price of various coins in Iran had surpassed their previous peaks. The prices of other types of coins in Iran also increased today, with each Bahar Azadi coin selling for 87 million tomans, half coins for 59 million and 500 thousand tomans, quarter coins for 32 million and 500 thousand tomans, and gram coins for 15 million and 500 thousand tomans. Each gram of 18-carat gold also sold for over eight million tomans in the Tehran market. Meanwhile, the US dollar approached the 100 thousand tomans mark, trading at 98 thousand tomans on Tuesday. Some market analysts believe that the rise in the prices of the dollar, coins, and gold in Iran is due to threats from Donald Trump, the President of the United States, against the Islamic Republic, following continued attacks by Houthi forces supported by the Islamic Republic on commercial vessels in the Red Sea. On March 27, Trump wrote on his social media platform Truth Social: 'From this moment on, any bullet fired by the Houthis will be considered a shot from the weapons and leadership of Iran, and Iran will be held responsible for it and will face consequences. These consequences will be severe.'