Iran Market Pulse: Monday Morning, July 20, 2026; the Dollar Backs Off Its 194,000-Toman Record, but Its Gap With the Official Rate Widens to 42,000 Tomans

Everyone watched the dollar's record, but today another number mattered more. The free dollar hit a record near 194 thousand tomans, then eased to about 193 thousand overnight. Today's key number: the gap between the free and official dollar passed forty two thousand tomans. In the currency market, the free dollar is about 193 thousand and the official rate near 150 thousand tomans. That is a spread of nearly twenty eight percent between the two dollar rates. A gram of eighteen karat gold is near 18.8 million tomans and the Emami coin about 189 million. Interestingly, despite the price drop, the Emami coin premium rose nearly seven percent. The main stock index closed slightly lower yesterday at four point seven five million points. Selling pressure and retail money outflow still weigh on the equity market. Bitcoin held near sixty four thousand seven hundred dollars and Ethereum near one thousand eight hundred seventy. Brent crude jumped over three percent to ninety one dollars, and spot gold stayed near four thousand twenty. The oil rise stems from Strait of Hormuz tension and the ongoing Muscat talks. The car market rose with the currency; the Shahin automatic reached about two point three five billion tomans. In steel and building materials, factory rebar and cement prices stayed relatively stable. Nearby, the Turkish lira traded near forty seven and the UAE dirham near forty one thousand tomans officially. Today, watch tomorrow's bullion auction, the Muscat table, and whether retail money returns to the bourse. Persistent geopolitical risk keeps hedging demand for currency and gold alive. Full analysis on Sahmino.com. Will the gap between the two dollar rates shrink or widen? Tell us.