Resurgence of Foreign Currency Exchange Rates in Iran

IranGate
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Resurgence of Foreign Currency Exchange Rates in Iran

Resurgence of Foreign Currency Rates in Iran

The rates of foreign currencies against the Iranian Rial increased for the second consecutive day on Thursday, April 27th.

The rate of the US dollar in Iran’s open currency market reached 53,550 tomans today, showing an increase of 1,100 tomans compared to the previous day.

The US dollar rate had also increased by 650 tomans compared to Tuesday.

The Iranian Rial lost nearly half of its value last solar year, and at the beginning of this year, the dollar rate was about 50,000 tomans.

In the first 10 days of this year, the dollar rate increased to 55,000 tomans but then took a decreasing trend and remained below 52,000 tomans until a few days ago.

Iranian officials have not explained the reason for the consecutive decline in the Rial’s value against foreign currencies.

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