US Dollar Exceeds 75,000 Tomans

Following the rising fluctuations in the exchange rate in Iran, the price of the US dollar surpassed 75,000 tomans during trading on Saturday, December 24, marking a new record for the dollar for the umpteenth time in the past week. According to currency exchange offices and market participants, the price of dollar remittances has also reached 76,500 tomans. Additionally, the price of the British pound has reached its highest historical level, trading at 94,200 tomans. Each euro has also reached 78,500 tomans, setting a new record for this important currency as well. Consequently, the dollar price has increased by more than 5,000 tomans in the past two weeks. Market participants believe that recent comments made by Ali Khamenei and Donald Trump have accelerated the rise in the dollar price. Following Ali Khamenei's remarks on Wednesday, December 21, regarding the renewed expansion and strengthening of 'resistance' in the Middle East, the dollar price crossed the 73,000 toman mark. After Donald Trump's statement suggesting the possibility of military options against the Islamic Republic, the dollar price surged past 75,000 tomans. The week in Iran began with the dollar crossing the 74,000 toman mark. An Associated Press report mentions power outages in Iran disrupting people's lives. The per capita meat consumption has fallen, and gasoline inflation threatens household livelihoods. A Reuters report highlights the Islamic Republic's billion-dollar income through oil smuggling networks.