Dollar Reaches 9,000 Tomans; Mobile Sellers Protest in Tehran

According to reports from Tehran, the price of the US dollar in the unofficial market has once again set a new record, exceeding 8,700 tomans, while some sources claim it has reached 9,000 tomans. In protest against the disarray in the currency market, a number of merchants in central Tehran marched on 'Jomhouri Street'. ISNA reported that the price of each US dollar in the free market in Tehran on Sunday, June 23, was 8,700 tomans, but unofficial sources indicated this figure was 9,000 tomans, noting that buying and selling dollars has practically stopped or only minimal transactions are occurring. Additionally, reports indicate that the price of the euro has risen to over 10,600 tomans and the pound to about 12,000 tomans. According to ISNA, the gold coin market also experienced an increase on Sunday, with each gold coin for delivery in September priced at three million two hundred thousand tomans, prompting the management of this institution to temporarily halt purchase orders. Meanwhile, several Iranian media outlets, including ILNA and the news website 'Jamaran', reported that two shopping complexes, 'Aladdin' and 'Charso', primarily dedicated to buying and selling mobile phones and digital devices, witnessed protest gatherings on Sunday. Protesters against the rising currency rates in Iran marched towards Baharestan Square. According to reports, the merchants in these complexes closed their shops in the afternoon on Sunday in protest against the chaotic currency situation, and some of them also marched in the surrounding streets. The protesters, moving from Jomhouri Street towards Baharestan Square, chanted slogans such as 'We don't want a 10 tomans dollar'. According to the same report, the police dispersed the demonstrators. ISNA reported on Saturday, citing brokers and currency traders, that among the reasons for the increase in the unofficial market currency rates were 'price increases in the official market' and 'lack of currency supply in recent days from the Central Bank'. According to the new currency policies of the Iranian government, the Central Bank has been prohibited from distributing currency in the market; however, ISNA noted that this bank had been supplying foreign currencies in various ways to control the market until a week ago. Furthermore, according to the new currency policies, the free currency market is not recognized, and any transactions in it are considered 'smuggling'; nevertheless, ISNA reported that the volume of supply and demand in this market remained high even after the implementation of the new policies. Under the new currency policy of Hassan Rouhani's government announced by Eshaq Jahangiri on April 8, the currency needed for imports and the currency resulting from exports to Iran's monetary and banking network is provided at a rate of 4,200 tomans per dollar, and all rates other than this are considered 'unofficial and illegal'. However, the 4,200 tomans rate has recently increased by 50 to 75 tomans. The increase in the prices of coins and currencies, as well as the protests of merchants from two shopping complexes in Tehran, occurred while the Islamic Consultative Assembly held a closed session on rising prices on Sunday morning. Additionally, the Minister of Industry, Mine and Trade of Iran issued a directive on Saturday banning the import of over 1,400 items, including cars and some household appliances.