Iran's dollar breaks 207,000 tomans on free market amid currency pressure

TEHRAN, Iran — The U.S. dollar surpassed the 207,000-toman threshold on Iran's free market on Sunday, extending its recent rise, according to data from the Tegharet News rate tracker. The dollar was quoted at 207,000 tomans and traded intraday at 207,300 tomans. The euro climbed to 239,830 tomans on the free market, the same figures showed. Published rates indicated the dollar reached roughly 2,077,000 Iranian rials, settling above the previous day's level. Pressure on the ryal pushed the currency into a range of 2,034,000 to 2,084,000 rials in recent hours, according to the data. The Central Bank of Iran said last week it had sold approximately $500 million in foreign banknotes to the banking system to try to contain the currency's rise, though the move failed to halt further increases and record highs. Tehran has previously announced that growing U.S. economic pressure and tightened sanctions have had a serious impact on Iran's foreign trade and broader economy.