Tehran Dollar Jumps 1.19 Percent Tuesday, Ending a Five-Day Slide, to Reach 187,800 Tomans (20 Mordad 1405)

Tehran's free market dollar rebounded today after five straight days of decline. On Tuesday, the twentieth of Mordad, it jumped more than one percent. The rate reached one hundred eighty seven thousand eight hundred tomans. That five day slide began on the fifth of August, the longest drop of the year. Yesterday, Monday, the dollar had closed at one hundred eighty five thousand six hundred tomans. A week earlier the dollar was near this same level, a full round trip in seven days. The main driver was the return of the Strait of Hormuz risk premium. Brent crude jumped nearly five percent, clearing eighty seven dollars again. Eighteen karat gold and the Emami coin also rose alongside the dollar today. For households, a dollar swing like this in one week can flip direction completely. This run began with speculation over an Iran Oman statement and reversed today on Hormuz tension. From the fifth to the tenth it fell, then Tuesday it jumped back; the dollar's full week. Watch whether the dollar holds above one hundred eighty seven thousand tomans, or slides back. Tuesday's jump of more than one percent ended the dollar's five day slide. Read the full story on Sahmino dot com; do you think this rebound holds, or reverses again?