Iranian Toman Hits Historic Low Against US Dollar

PUKMEDIA

US and Iranian currency.

For the first time in the history of Iran’s currency, the Toman has fallen to a historic low against the US dollar. On Monday, 24 August 2026, US$100 was trading at more than 20 million Iranian Tomans, marking the currency’s weakest level on record.

Economic expert Jabar Goran attributed the sharp depreciation of the Toman to three main factors: decisions by the US Department of the Treasury, the suspension of international transactions with Iran, and Tehran’s continued threats concerning the Strait of Hormuz.

Goran said that US$100 was worth more than 20 million Tomans in the market, while the cash rate stood at around 19.3 million Tomans. He described the decline as unprecedented in the history of Iran’s currency.

The historic fall comes as the conflict involving the United States, Israel and Iran has continued for nearly six months. The prolonged military and political tensions have placed sustained pressure on Iran’s economy, contributing to the continued depreciation of the Toman. Economic experts warn that the situation could deteriorate further, with the currency potentially losing additional value.

Amid these risks, experts are advising citizens and investors against purchasing or holding large amounts of Tomans as an investment, warning that the currency’s continued decline could pose a serious threat to their capital.


PUKMEDIA