The US dollar surpassed the 194,000 Toman mark on Saturday, July 18, 2026, recording its highest historical rate in Tehran's open market. This surge, coinciding with escalating military and political tensions, has heightened concerns that the Iranian economy is entering a new phase of currency devaluation and accelerating inflation.

Meanwhile, the UAE Dirham also reached a new record, hitting an unprecedented rate of 53,300 Tomans at the time of reporting.

With this jump, the Iranian Rial has weakened by 43.7 percent against the US dollar so far this year. At the beginning of the current calendar year, the US dollar was trading at 135,000 Tomans in Tehran's open market.

The latest round of Rial depreciation follows the start of a new naval blockade of Iran and US military airstrikes on the country's southern regions, aimed at weakening Iran's military capacity to disrupt the Strait of Hormuz. These developments have intensified fears of a rapid spike in Iran's inflation rate.