The Price of the US Dollar Surpasses '100,000 Tomans' on the Fifth Day of 1404

The prices of various foreign currencies in Iran surged suddenly, with each US dollar increasing by five thousand tomans compared to the last day of 1403, surpassing the 100,000 tomans mark. Reports from currency and gold coin rate websites in Iran indicate that on Tuesday, the fifth of Farvardin, the dollar reached 103,500 tomans, setting a new record in the history of the decline of the rial's value. Since the rise of Masoud Pezeshkian to power in Mordad of last year, the value of the Iranian rial has decreased by more than half. The price of the US dollar in late Mordad was around 58,000 tomans. Each euro, the currency of the European Union, also increased to about 119,000 tomans, and each British pound was traded at 134,000 tomans. The increase in foreign currency prices occurred while the price of gold coins did not change significantly, remaining around 97 million tomans, similar to the last days of the previous year. The rise in foreign currency prices comes amid numerous reports in recent weeks about the possibility of new negotiations between Iran and the United States to reach a new agreement regarding Iran's nuclear program. While the maximum pressure policy of Donald Trump's second administration against Iran continues, the US President has written a letter to Ali Khamenei, the leader of the Islamic Republic, which Tehran officials say contains 'opportunities and threats.' The rise in the dollar price in Iran's free market could indicate pessimism regarding the likelihood of resuming negotiations between Tehran and Washington and reducing sanctions, although Iran and the US claim they are in indirect contact through various channels. The Iranian Foreign Minister stated that Donald Trump's letter is under review and will be responded to soon. On the other hand, following several years of inflation rates above 40 percent, many Iranian citizens are converting their savings into dollars, other currencies, and gold, which also weakens the national currency.