Continuing the upward trend in currency and gold prices in Iran, the price of each U.S. dollar surpassed 1.22 million rials, and the price of the new-design gold coin known as the “Emami” exceeded 1.29 billion rials.
The price of each dollar in Iran’s free market
In recent weeks, an upward wave has swept through Iran’s currency and gold markets, repeatedly setting new records and creating a new path of price increases.
On December 1, the prices of various gold items in domestic markets set new records, and the price of the “Emami” gold coin exceeded 1.26 billion rials.
Five-thousand-toman gasoline
The rise in currency and gold prices comes as a third-tier gasoline price of 50,000 rials was scheduled to be introduced starting December 6.
Fatemeh Mohajerani, the government spokesperson, wrote on her personal account on X on the evening of December 5: “The exact date for implementing the gasoline price reform plan has not yet been finalized.”
Many citizens have described the introduction of three different gasoline price tiers as contradicting the election promises of Masoud Pezeshkian, the president of Iran’s regime, and as a factor that increases economic pressure on the population.
In recent months, runaway inflation and the rise of foreign exchange rates have added to concerns about the worsening economic situation in Iran. This trend intensified following the return of United Nations sanctions and the insistence of Iran’s regime officials on continuing the nuclear program.
In the past year, food prices in Iran have increased by more than 66% on average.
During this period, bread and grains increased by 100%, fruits and nuts by 108%, vegetables by 69%, beverages by 68.3%, fish and shellfish by 52.3%, and milk, cheese, and eggs by 48.6%.
Worsening economic conditions amid the ongoing nuclear deadlock
The economic crisis in Iran has intensified while the prospects for nuclear negotiations remain highly uncertain.
In response to Pezeshkian’s request for Saudi Arabia to mediate between Tehran and Washington, the U.S. government once again emphasized its three conditions for negotiations with Iran’s regime.
Steve Witkoff, Donald Trump’s special envoy for Middle East affairs, had previously demanded that Iran’s regime fully abandon its nuclear and uranium enrichment program, dismantle its proxy forces, and accept limits on its missile program.
Some media outlets in Iran have reported that, in addition to diminishing hopes for reviving nuclear talks and political openings, discussions about the 2026 budget deficit and the gasoline price increase have also contributed to the turmoil in Iran’s currency and gold markets.
