The jump in the dollar rate above 94,000 tomans and the unprecedented monthly inflation in Iran

Weezha Roz-Tehran-On Thursday, February 21, the dollar rate in Iran’s free market increased by more than 1,500 tomans, surpassing 94,000 tomans, reaching a maximum of 94,150 tomans.

This rise continues the unstable upward trend in Iran’s currency market, which has grown by 5% in just the past week and 15% in the last month.

According to a report by Iran’s Statistical Center, monthly inflation in the month of Dey 1403 has reached its highest level since February 2022, breaking the two-year record.

Additionally, point-to-point inflation (comparing prices of Dey 1403 with Dey 1402) has risen from 31.8% in Farvardin to 35.3% in Dey.

This data shows the growing pressure of inflation on the livelihoods of Iranian families.

The dollar rate has increased by a record 70% over the past year.

Experts attribute the surge in currency prices and runaway inflation to factors like rising liquidity (with over 30% growth in liquidity last year) and tightening sanctions.

These fluctuations have directly impacted the prices of essential goods, medicine, and services, creating a new wave of concerns about the diminishing purchasing power of the public.

While government officials have promised “control of the currency market” and “price stabilization,” economic analysts warn that without structural reforms in monetary policies and controlling liquidity, the vicious cycle of inflation and currency devaluation will continue.

Weezha Roz