Tehran's Free Market Dollar Hits Monthly Low Monday, Fifth Straight Day of Declines

Tehran's free market US dollar rate posted its fifth straight daily decline on Monday, 19 Mordad 1405 (10 August 2026), reaching a one-month low; according to Donya-e-Eqtesad, this is the longest losing streak of the year, since the previous longest run of declines had been four consecutive days. In Monday's trading, quoted selling rates for a US dollar banknote ranged from 181,500 to 184,500 tomans, with 183,000 tomans both the market midpoint and the most frequently quoted rate.

Donya-e-Eqtesad reported that the decline began alongside growing speculation about a possible joint Iran Oman statement on a mechanism for commercial ship passage through the Strait of Hormuz; market participants also cited continued dollar supply from a market maker in the spot market as a factor capping the rate. Alongside the dollar's fall, Tehran's domestic gold market eased slightly: the new design Bahar Azadi coin traded at midday Monday at 186,150,000 tomans, down 150,000 tomans from Sunday. Globally, gold held above $4,300 an ounce; weaker than expected US jobs data cut the priced in odds of a 25 basis point Federal Reserve rate hike at the September meeting to about 44 percent, down from about 67 percent a week earlier. Brent crude rose above $84 a barrel on Monday, its fourth consecutive rising session, with continued uncertainty over the Strait of Hormuz remaining a key support for oil prices.