Free-market dollar climbs to around 190,000 tomans on Tuesday evening amid the war-versus-talks tug

The free-market dollar in Tehran extended its gains during trade on Tuesday, 21 July 2026. Having started the day at around 187,700 tomans before trading began, the dollar rose about 1.3 percent to the 190,200 toman area, a level above the roughly 189,000 tomans seen earlier in the morning. Sahmino's live figures also put the rate near 190,400 tomans.

Market participants attribute the swings to a tug between two opposing signals: continued strikes and military tension in the Strait of Hormuz on one side, and reports of mediators proposing a ceasefire and talks between Tehran and Washington on the other. Each fresh signal about escalation or de-escalation has kept the exchange rate volatile.