The Iranian financial market opened the week on Saturday, October 17, 2026, with significant upward momentum across major asset classes. The US Dollar in the free market reached a selling price of 262,800 Toman, while the buying rate hovered around 261,245 Toman. This surge reflects ongoing inflationary pressures and heightened demand for hard currency as a hedge against local currency depreciation. Other major currencies followed suit, with the Euro trading at 295,300 Toman and the British Pound reaching 349,450 Toman.
The gold market experienced even more pronounced volatility, fueled by the global gold ounce price sitting at a staggering $4,166.10. Domestically, the Emami gold coin was priced at 266,500,000 Toman, while the Azadi coin stood at 257,500,000 Toman. Each gram of 18-karat gold reached 26,178,493 Toman, marking a historic high for the Iranian precious metals market. The synergy between the rising dollar and record-breaking global gold prices has created a perfect storm for domestic bullion investors.
In the digital asset space, Bitcoin (BTC) maintained its strong position at $81,477, showing resilience in the face of global economic shifts. Ethereum (ETH) was traded at $2,424.09. Interestingly, the price of Tether (USDT) in the Iranian market was recorded at 262,521 Toman, closely tracking the free market dollar rate. This alignment suggests a high degree of integration between the traditional currency market and the crypto ecosystem in Iran, as traders increasingly use stablecoins for capital flight and preservation.