Dollar Hits Record 209,300 Tomans, Brent Tops $90 as Iran-US Tension Escalates; Iran Market Pulse, Tuesday, 10 Shahrivar 1405 / September 1, 2026: TEDPIX Sets Fresh Record Anyway

1. Lead

Tehran's free market dollar hit a record 209,300 tomans on the evening of Monday, 9 Shahrivar 1405 (August 31, 2026), and Brent crude crossed $90 a barrel the same day, right as the United States struck Islamic Revolutionary Guard Corps positions on Larak Island near the Strait of Hormuz and Iran retaliated with missile strikes on US bases in Jordan and a drone strike toward a base in the UAE. Even so, Tehran's main index (TEDPIX) closed the same session up 0.49 percent at a fresh record of 6,547,932 points, though the equal weight index fell 0.34 percent and retail investors pulled roughly 2 trillion tomans out of the stock market. Global gold traded calmer than the news flow might suggest, and bitcoin, coming off the largest weekly inflow into global crypto funds since October 2025, stood near $78,700 on Tuesday morning.

2. Today's Snapshot

3. Today's Top Headlines

• US forces struck two IRGC rocket launchers on Larak Island near the Strait of Hormuz Sunday night; Iran responded Monday by firing missiles at two US bases in Jordan and flying dozens of drones toward a base in the UAE. The UAE denied its base was hit. Commercial shipping traffic through the Strait of Hormuz fell to about five vessels a day over the same period (Al Jazeera, 9 Shahrivar/Aug 31).
• Brent crude jumped more than 2.6 percent to $90.45 on Monday and traded at $91.13 Tuesday morning; the UAE's Murban crude jumped more than 4 percent the same day (Gulf News, citing Reuters, and Trading Economics, 9 Shahrivar/Aug 31).
• Tehran's free market dollar hit a record 209,300 tomans Monday; tgju.org's own data shows this is the highest price ever recorded for the free market rate (Ecoiran and tgju.org, 9 Shahrivar/Aug 31).
• Global crypto funds drew $3.2 billion in net inflows in the week ending 31 Mordad (Aug 22), the largest weekly figure since October 2025, led by US spot bitcoin and ether funds (Bank of America's Flow Show, via CryptoBriefing, 8 Shahrivar/Aug 30).
• The US dollar index held near a two week high at 99.6 and the Japanese yen slipped past 160 per dollar; the G20 finance ministers and central bank governors meeting in the US Monday and Tuesday is focused on possible coordination over Iran sanctions (Reuters, via Shafaq News, 9 Shahrivar/Aug 31).

4. Currency

Tehran's free market dollar extended its recent uptrend to reach 209,300 tomans on Monday, 9 Shahrivar, which live data from tgju.org shows is the highest price ever recorded for this rate. That is up about 4.4 percent from a week earlier (200,500 tomans on Wednesday, 4 Shahrivar) and up nearly 4.7 percent from the start of Shahrivar (199,900 tomans on Sunday, 1 Shahrivar, per Sahmino's own price series). The Iran Currency and Gold Exchange Center's official "havaleh" selling rate, allocated to specific imports and uses, held steady at 158,956 tomans, putting it more than 31 percent below the free market rate; the gap keeps two rates priced by two different mechanisms, administrative allocation versus free market supply and demand, further apart. Tether traded in the domestic market Tuesday morning down a slight 0.1 percent at 208,994 tomans, below the free market dollar. The dollar's rise in recent days has coincided with escalating Iran-US military tension and rising regional geopolitical risk, which Reuters and Al Jazeera reports say is boosting safe haven demand for hard currency and gold in the domestic market. The G20 finance ministers meeting in the US, which began Monday and continues Tuesday, is according to Shafaq News focused on possible coordination among countries over Iran sanctions, and could weigh on currency market expectations in the coming days.

5. Gold and Coin

Global spot gold traded down 0.27 percent at $4,435.10 Tuesday morning, as the US dollar index held near a two week high and the two year US Treasury yield rose to a more than one month high, a combination that typically dulls near term appetite for non yielding gold even on a day when West Asia geopolitical risk stays elevated. Tehran's 18 karat gold stood at 22,218,200 tomans per gram Monday evening and the Emami gold coin at 223,510,000 tomans, both with no notable change from the previous day. For comparison, tgju.org data shows 18 karat gold is up 2.49 percent and the Emami coin up 21.81 percent from a month earlier (11 Mordad), a gap that mostly reflects the dollar's faster rise over the same period. Two independent sources, tgju.org and Alanchand, put the Emami coin price at 2,235,100,000 and 2,235,000,000 rials respectively Tuesday morning, which are effectively in line; but the two sources diverge sharply on the exact size of the coin's premium (its gap over melt value), so today's precise premium figure is not reported as a citable number.

6. Bourse and Farabourse

TEDPIX, Tehran's main index, which is a separate exchange and index from Farabourse, closed Monday, 9 Shahrivar, up 0.49 percent (31,749 points) at a fresh record of 6,547,932 points. Per Ecoiran, carried by Donya-e-Eqtesad, the market faced selling pressure early in the session amid the day's political and military tension, but demand strengthened as trading continued and the index held its upward path. Even so, the equal weight index, which gives every symbol the same weighting, fell 0.34 percent; the divergence shows today's gains were concentrated in the market's larger names rather than broad based. Trading value reached 51 trillion tomans, and Sahmino's own data shows retail investors were net sellers on the Tehran exchange Monday; media reports put the figure at close to 2 trillion tomans in net retail outflows, equivalent to roughly 8,948 Emami gold coins at today's price. Among individual names, Fameli (National Iranian Copper Industries) rose for a fifth straight session, opening 2.97 percent higher to a one year record of 21,150 rials, while Shepna (Isfahan Oil Refining) also logged its fifth straight higher close, reaching a one year high of 12,890 rials with a buy queue. On the other side, Khodro (Iran Khodro) had a tough day, opening 2.88 percent below the prior close with a sell queue. Farabourse was calmer: its main index fell 0.26 percent to 51,230 points on trading value of more than 257 trillion tomans, with retail investors also net sellers there.

7. Crypto

Bitcoin traded down a slight 0.3 percent at $78,738 Tuesday morning and ether down 0.32 percent at $2,471, though both remain in the middle of one of the strongest waves of institutional inflows into crypto in the past year. Per Bank of America's weekly Flow Show report, carried by CryptoBriefing and tgju.org, global crypto investment funds recorded $3.2 billion in net inflows in the week ending 31 Mordad 1405 (August 22, 2026), the largest weekly figure since October 2025 and a nearly $3 billion swing from the prior week, which had seen $392 million in outflows. US spot bitcoin and ether ETFs did the heavy lifting, together drawing about $2.6 billion, or 81 percent of the total; bitcoin funds alone took in $1.9 billion and ether funds $697 million. Monthly bitcoin ETF inflows for August 2026 also topped $3 billion, one of the strongest months on record for these funds. For Iran's market, where tether and other cryptocurrencies track these same global prices, the return of institutional appetite for bitcoin and ether is one gauge of global demand direction; tether traded at 208,994 tomans in the domestic market Tuesday morning.

8. Iron and Steel

On the Iran Mercantile Exchange, A3 rebar (14 to 20mm) settled Monday, 9 Shahrivar, at a volume weighted average of 714,599 rials per kilogram (71,460 tomans). In the open market, Aryan Steel's factory A3 10mm rebar was priced at 76,820 tomans the same day, a gap that mostly reflects distribution costs and middleman margins over the exchange discovered price. Shanghai rebar, the global benchmark, traded up 0.8 percent at 3,134 yuan a tonne Tuesday morning. Iran's domestic steel market continues to track the dollar rate and export energy costs; the jump in global oil prices and rising regional tension in recent days could raise energy and freight costs across the steel chain in the medium term, though that effect had not yet shown up in Monday's prices.

9. Cars

In the vehicle market, Saipa's Pride 151 GX, 1405 model, was priced around 1,180,000,000 tomans Monday, 9 Shahrivar, and the 1404 model around 1,130,000,000 tomans. Iran Khodro's stock symbol had a sell queue the same day, opening 2.88 percent below the prior close, a decline that coincided with the day Iran's Administrative Justice Court, per Sahmino's earlier reporting, struck down Competition Council Resolution 473 on car down payments, with Saipa and Iran Khodro filing differing reactions on Codal. The dollar's sustained rise in recent weeks continues to put upward pressure on imported parts costs and, in turn, on the market price premium over factory price, but no fresh data was available to measure that gap for today.

10. Building Materials

On the commodity exchange, Type 2 (42.5) bulk cement settled Monday, 9 Shahrivar, at 27,424 rials per kilogram (2,742 tomans) and the bagged version at 38,491 rials per kilogram. In the open market, a 50 kilogram bag of Type 2 Portland cement from Tehran Cement and Abyek Cement was priced at 240,000 and 227,000 tomans respectively. Farabourse listed names in the sector were quiet: Simana (bourse listed) fell 0.49 percent to 37,501 rials and Simano fell 0.68 percent to 39,240 rials, while Simania on Farabourse rose 0.06 percent. The sector has been relatively stable in recent weeks, with no notable news on supply or pricing policy in the past 24 hours.

11. Regional and Global Outlook

Brent crude jumped more than 2.6 percent to $90.45 Monday and traded up 0.69 percent at $91.13 Tuesday morning, after the US struck IRGC positions on Larak Island Sunday night and Iran responded Monday with strikes on bases in Jordan and the UAE; per Gulf News, the UAE's Murban crude reacted even more sharply, jumping more than 4 percent, reflecting the market's heightened sensitivity to Gulf supply and shipping risk. The US dollar index held near a two week high at 99.6, after Federal Reserve Chair Kevin Warsh's hawkish Jackson Hole remarks pushed the market's priced probability of a September rate hike to 57 percent; the Japanese yen slipped past the psychologically important 160 per dollar level. The G20 finance ministers and central bank governors meeting in the US began Monday and continues Tuesday, and per Shafaq News, market watchers are looking for signs of coordination on Iran sanctions there. In Iran's neighborhood, the dollar held near 154,000 dinars in Baghdad and Erbil for a second straight day, while Iraq's domestic public debt to its central bank reached $81 billion by the end of June, up 17.2 percent from the end of 2025; the stability of that corridor matters for Iranian traders active in Iraq's dinar and dollar market. The dollar traded at 48.27 Turkish lira and 6.72 Chinese yuan Tuesday morning.

12. Takeaway

Today was a dollar and oil day, not a bourse day; the same pattern was visible in yesterday's Market Pulse too. The currency and energy markets were the ones pricing in war risk: the dollar hit a record 209,300 tomans and Brent crossed $90, while TEDPIX still set a fresh record of 6,547,932 points despite the same tension. What should not be forgotten is that the index record came alongside nearly 2 trillion tomans in retail outflows at the same time, meaning big money, not small retail money, was behind today's bourse gain.

13. What to Watch Today

• The G20 finance ministers and central bank governors meeting continuing in the US on Tuesday, and any sign of fresh coordination on Iran sanctions.
• Shipping traffic through the Strait of Hormuz, which fell to about five vessels a day after the recent strikes, and how global oil prices react to any new military development.
• How Tehran's bourse opens today in reaction to yesterday's index record and retail outflows, especially in larger names like Fameli and Shepna, which closed last week with buy queues and one year records.
• How the free market dollar and gold react to any fresh military or diplomatic news, after yesterday's record.