The surge in foreign currency exchange rates in the Iranian market continued.
On Saturday, April 29, the exchange rate of the dollar in Iran’s open market increased by 1,000 tomans compared to the previous day, reaching 54,750 tomans, which is the highest figure since the beginning of the current solar year.
Over the past four days, foreign exchange rates have consistently followed an upward trend, and during this period, the dollar’s rate against the Iranian rial has increased by 3,000 tomans.
In the year 1401, the Iranian rial lost half of its value, and since the beginning of the current year, the dollar’s rate against the Iranian rial has grown by 11 percent.
The halving of the Iranian rial’s value over the past year occurred despite the fact that, according to the U.S. Energy Information Administration, Iran’s net oil and petroleum product export revenues grew by 49 percent in 2022. Iran’s customs statistics also report a significant increase in the country’s non-oil exports.
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