Currency History Reaches Its Peak in Iran

In Iran, the rise of the dollar and euro, whose rise could not be restrained in recent months, reached the highest level in the country’s history.

According to “”, which monitors the free foreign exchange market in Iran, the selling rate of the dollar in the free market reached 50 thousand 100 divisions, exceeding the psychological threshold of 50 thousand divisions for the first time.

The euro, which broke a new record, was traded in 53,340 divisions.

In Iran, 1 US dollar was traded around 41,000 divisions at the beginning of January. Accordingly, Iran’s local currency has lost 22% of its value against the dollar since the beginning of the year.

In the five-year period after the US withdrew from the nuclear agreement in May 2018, the depreciation of the division against the dollar exceeded 700 percent. In Iran, the dollar was at the level of 6,000 divisions in May 2018.

In recent months, the European Union (EU) has begun to impose sanctions on Tehran for reasons such as the intervention of the security forces in the protests in the country, the alleged sending of weapons to Russia to be used in the war against Ukraine, and its nuclear program.

Ece Nagihan

Hi, I'm Ece. I am a writer for Expat Guide Turkey and I strive to create the best content for you. To contact me, you can send an e-mail to Happy reading!

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