The US dollar surpassed the historic 200,000-toman threshold on Iran’s open market for the first time on Sunday, August 23, 2026. At the same time, the UAE dirham reached about 55,000 tomans in some trades, pushing the rial to a new record low.

The dollar opened Sunday’s trading at between 197,000 and 198,000 tomans before rising demand pushed it above 200,000 tomans. Some market sources reported a rate of about 200,100 tomans.

The UAE dirham, a key currency influencing Iran’s foreign exchange market, also climbed to new highs alongside the dollar. Market rates indicated that the dirham had reached the 55,000-toman range.

The rise in exchange rates has accelerated in recent days. The dollar ended Saturday’s trading at about 193,000 tomans and surged from around 186,000 tomans to the 200,000-toman threshold in just a few days. The dollar has also more than doubled compared with the same period last year, while the rial has lost more than half its value against the US currency.

The latest currency surge comes amid renewed concerns over mounting economic pressure on Iran. US Treasury Secretary Scott Bessent said on Thursday that Washington intended to impose what he described as the “toughest sanctions in history” against Iran, with details of the measures due to be announced on Monday. Donald Trump had also previously threatened other countries against providing Iran with any form of “economic lifeline.”

Because trading on Iran’s open foreign exchange market is informal and fragmented, rates reported by different sources can vary by several hundred to several thousand tomans at any given time. Nevertheless, the dollar’s rise above the psychological threshold of 200,000 tomans represents an unprecedented record for Iran’s currency market and could place further pressure on the cost of imported goods, production expenses and inflation expectations.