Tehran, Iran – The Iranian currency continued its sharp decline on the free market, with the US dollar reaching 205,500 tomans. Dollar remittances reached 209,000 tomans. Meanwhile, the British pound sterling was trading at 277,000 tomans, and the price of a gold “Emami” coin reached 218 million tomans.
Exceeding the 200,000 toman barrier and the “economic exclusion” plan
This rapid collapse comes after the dollar broke the 200,000 toman barrier last Sunday, just before the actual implementation of the “economic exclusion” plan approved by the US to tighten the financial noose around Tehran. These disastrous indicators also coincide with an intensified package of economic pressure led by Washington.
US Treasury Department moves
In its first concrete action under the new campaign, the US Treasury Department on Friday took drastic steps, including barring branches of Bank Misr in the United Arab Emirates from accessing the US financial system. This was due to suspicions of their ties to Iranian financial networks. The department also imposed direct sanctions on the Dubai branch manager of the National Bank of Iran. These measures are part of an effort to cut off foreign funding to the Iranian economy.
