Free-market dollar holds near 190,000 toman on Wednesday; euro around 216,000 toman

The free-market US dollar traded around 190,000 toman in Wednesday's session (22 July 2026), holding near its recent highs. In the early hours of trading the dollar changed hands at about 190,300 toman and the euro at roughly 216,640 toman.

The currency market remains caught between two opposing forces, war and diplomacy: continued strikes and tension around the Strait of Hormuz on one side, and speculation over a ceasefire and negotiations on the other, keeping rates in a tight, sensitive band. At Tuesday's (21 July) close the dollar had also been recorded near 190,300 toman, up about 1.4 percent on the day.