Iranian Currency Declines Against Dollar Amid Rising Economic Pressures

The Iranian currency continued its decline against the US dollar on Thursday, with the dollar selling price in the free market reaching approximately 273,700 tomans, equivalent to about 27.37 million tomans per 100 dollars, amid increasing economic pressures and escalating inflation rates. The dollar selling price rose by 3,900 tomans compared to the previous day, registering an increase of 1.45%. This decline is part of a continued depreciation of the Iranian currency over recent months, due to the repercussions of military confrontations with the United States and Israel, restrictions on oil exports, decreased foreign currency inflows, and increased demand for the dollar and gold as safe havens to protect savings from inflation. Earlier in October, the Central Bank of Iran announced the injection of up to two billion dollars through government banks to support the local currency and reduce exchange market fluctuations. Meanwhile, data from the Iranian Statistics Center showed the annual inflation rate rose to 73.6% in September, with consumer prices increasing by 89.8% compared to the same month last year, reflecting expanding living pressures and a decline in household purchasing power.