Gap between Iran's free-market and exchange-center dollar widens to about 39,000 toman on Tuesday

The gap between Iran's free-market dollar and the exchange-center transfer rate (the agreed, or tavafoghi, rate of the Iran Currency and Gold Exchange Center) widened on Tuesday, 21 July 2026 (30 Tir 1405). The exchange-center transfer dollar rose about 227 toman to nearly 150,900 toman, while the free-market dollar climbed about 1.4 percent to around 190,000 toman by Tuesday evening.

On that basis, the gap between the two rates reached about 39,000 toman (close to 26 percent), a spread that reflects the war-risk premium in the open market amid the Iran-US conflict. At the same exchange center, the euro transfer rate was about 172,223 toman and the UAE dirham about 41,093 toman.

The tavafoghi rate is an official, managed rate used for part of the country's imports and trade transactions, and it typically sits below the free-market rate.