Media in Iran have reported a severe decline in the value of the 'rial', Iran's national currency, against the Afghan currency, stating that one Afghan has reached over 1,000 tomans. Some experts believe that the country's wartime conditions are the main factor behind the recent fall in the value of the rial. According to reports from news sites, on Thursday, November 3, the price of each US dollar in the Tehran free market reached 69,000 tomans, ultimately closing the day with a dollar price of 68,500 tomans. The website 'Tejarat News' noted that at the beginning of this year, one Afghan was equal to 8,500 rials. On May 29, the value of the Afghan against the rial decreased, with one Afghan equal to 7,930 rials. The website added that the value of each Afghan in the Iranian market increased to over 9,000 rials on October 2, 1403, and ultimately on November 3, the value of the Afghan reached 10,270 rials. The report from Tejarat News also pointed to the trend of the decline in the value of Iran's national currency and the strengthening of the Afghan currency, emphasizing that 'in 2023, it was announced that the value of the Afghan currency had grown by 14%. According to experts, the Taliban has increased the value of the Afghan currency in the market by banning the use of the dollar and Pakistani rupee in local transactions, imposing restrictions on the transfer of dollars outside Afghanistan, and prohibiting online trade.' In Iran, however, economic policies and the Islamic Republic's approach beyond its borders have caused the dollar to rise from 39,000 tomans in the first month of 2023 to 69,000 tomans in recent days. This trend indicates that the dollar in Iran has experienced a price increase of 30,000 tomans in less than two years. Experts believe that continued political tensions between Iran and Israel, along with domestic economic stagnation, paints a worrying outlook for the currency market. Accordingly, it is predicted that, in the event of a possible Israeli attack on the positions of the Islamic Republic, the price of the dollar in Iran will exceed 100,000 tomans.
Severe Decline in the Value of the Rial Against the Afghan Currency
The value of Iran's rial has sharply declined against the Afghan currency, with one Afghan now worth over 1,000 tomans. Experts attribute this decline to wartime conditions and economic policies, predicting further increases in the dollar's value if tensions with Israel escalate.
👥 Key Players
📰 What Happened
The Iranian rial has significantly depreciated against the Afghan currency, with one Afghan now worth over 1,000 tomans. Experts attribute this decline to wartime conditions in the region and ineffective economic policies in Iran.
- The value of the rial has dropped from 8,500 to over 10,270 rials per Afghan in less than a year.
- The dollar's value in Iran has surged from 39,000 tomans to 69,000 tomans in 2023.
💡 Why It Matters
📚 Background
Iran has faced significant economic challenges due to sanctions, mismanagement, and regional conflicts, leading to currency depreciation. The Taliban's economic policies have unexpectedly strengthened the Afghan currency.
🏷️ Entities Mentioned
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