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Iran currency crisis deepens as the rial weakens sharply against the U.S. dollar.
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Iran’s Currency Shock Deepens as Dollar Hits New Free-Market Record

by Oguz BuyukyildirimMay 3, 2026May 3, 2026

The U.S. dollar rose above 184,000 tomans in Iran’s free market, setting a new record low for the local currency. Some live exchange-rate screens on May 3 placed the free-market rate closer to 188,000 to 189,000 tomans in certain listings. Since one toman equals 10 rials, that implies a rate near 1.88 million rials per […]

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