The rial fell once again to the lowest level in its history on Tehran's open market on Sunday, 4 October 2026. According to Iran International, the price of one US dollar passed 272,000 tomans, a rise of about 1.3 percent on the previous day. According to Euronews Persian, the euro also traded at an unprecedented record of 307,000 tomans, and the British pound went above 357,000 tomans.
In the gold market, according to Euronews Persian, the full Bahar Azadi gold coin of the Emami design rose by about two percent to 275 million tomans, and Iran International reported its price at 277 million tomans in later trading. A gram of 18-carat gold was priced at about 26.6 million tomans. According to Iran International, the authorities have tried to calm the market by selling foreign currency at the official rate of about 257,000 tomans, but critics doubt the effectiveness of this policy amid a severe shortage of foreign currency.
The government's claims and the market reality
Masoud Pezeshkian, the head of the Islamic Republic's government, has said, according to Euronews Persian, that the government has adopted new measures to manage the special circumstances and is injecting two billion dollars of foreign currency into the market. Nevertheless, the upward trend in exchange rates has continued, and the rial has lost about half of its value against the dollar since the beginning of 2026.
Experts, according to reports by these outlets, see the main reason for this collapse in the US economic pressure campaign, the naval blockade of Iran's ports and the closure of foreign trade routes. According to Iran International, the US Treasury Secretary has said that last week, for the first time in history, not a single cargo of Iranian oil was at sea.
Oil exports halted and inflation
Earlier, data from the tanker-tracking company Kpler had shown that not a single oil cargo was loaded at Iran's export terminals in the Iranian month of Shahrivar (23 August to 22 September), something unprecedented since 1979. The inflation rate has also reached nearly 90 percent, and shortages of energy and medicine, delays in the payment of wages and widespread unemployment have added to the pressure on people's daily lives.
With the dollar above 272,000 tomans and the euro above 307,000 tomans, the government's injection of foreign currency has failed to halt the rial's collapse.
Comments
No comments yet. Be the first.