Iranian toman weakens against US dollar

Shafaq News- Tehran

Iran's currency continued to weaken against the US dollar on Thursday, with the US dollar trading at 272,200 tomans on the parallel market, according to exchange-rate tracker Bonbast.

The toman has depreciated sharply in recent months amid the economic fallout from Iran-US-Israel tensions and restrictions on oil exports and reduced foreign currency inflows. Demand for dollars and gold has also risen as Iranians seek to protect their savings from inflation.

Earlier this month, Iran's central bank announced plans to inject up to $2 billion into the foreign exchange market through state-owned banks to support the currency and curb volatility.

Meanwhile, figures from the Statistical Center of Iran showed annual inflation reaching 73.6% in September, while consumer prices were 89.8% higher than a year earlier, adding to pressure on household purchasing power.

One toman equals 10 rials.