Red Alert in the Market; Stock Market Crash, Dollar Soars to 66,000 Tomans

With escalating tensions between the Islamic Republic and Israel and the rising likelihood of direct conflict, financial markets in Iran have entered a red alert status, with 99% of stock indices in sell-off mode and a recorded drop of 42,000 units in the index. Simultaneously, reports from the currency market indicate that the dollar has been traded at 66,000 tomans. At the time of this report, each US dollar was initially sold at 65,700 tomans and later reached 66,000 tomans. The euro also surpassed 70,000 tomans. Each British pound traded above 82,000 tomans this morning. In the gold market, prices have surged to 45 million and 200 thousand tomans, influenced by record-breaking global gold prices and regional developments. Additionally, each gram of 18-carat gold is being traded at 3 million and 820 thousand tomans. In recent hours, as tensions between the Islamic Republic and Israel have peaked, speculation about a military attack on Israel has intensified, with many international news agencies reporting from their sources about the 'imminent' nature of these attacks. During an attack attributed to Israel on the Islamic Republic's consulate in Damascus on April 2, seven senior commanders and members of the Quds Force of the Islamic Revolutionary Guard Corps were killed. Since then, the leader and other officials of the Islamic Republic have threatened retaliatory attacks on Israel. In response to the fluctuations in the currency and gold markets, Hajji Deligani stated, 'The government has given up.' The free fall of the national currency's value has led a Texas university professor to assert that the real dollar rate in Iran should be 85,000 tomans. The feverish currency market has sparked claims of government incompetence from opponents, while supporters argue that the currency rate is decreasing.