Foreign currency rates in Iran’s open market set new historical records once again on Wednesday, September 2. According to the latest rates published on the Navasan tracking website, the Euro price surpassed 255,000 Tomans for the first time, while the US Dollar climbed past 220,000 Tomans.
Based on the latest figures listed on the platform, one US Dollar traded at 220,200 Tomans. The Euro reached 255,340 Tomans, and the British Pound was priced at 297,330 Tomans.
Additionally, one Canadian Dollar reached 159,020 Tomans.
The ongoing surge in foreign exchange rates within Iran’s open market coincides with statements from US Treasury Secretary Scott Bessent, who pledged that Washington will sever all of the Islamic Republic’s economic ties with the outside world.
Bessent also noted that airlines, the shipping industry, and digital assets could be targeted next by US sanctions, emphasizing that any entity conducting business with the Islamic Revolutionary Guard Corps (IRGC) will face sanctions.
Gold and bullion prices in the Iranian market also remained at elevated levels despite a decline in global prices. According to Wednesday’s posted rates, the price of the “Emami” gold coin reached 224 million Tomans.
These price spikes occurred one day after Abdolnaser Hemmati, Governor of the Central Bank of Iran, dismissed claims of foreign currency shortages and the prospective collapse of Iran’s economy, stating that the Central Bank stands ready to supply $2 billion in foreign exchange to stabilize the market.