Iran Introduces New 200,000 Toman Banknote Amid Economic Turmoil

Iran’s Central Bank issued a new 200,000 Toman banknote amid economic turmoil. The currency features notable artwork and coincides with record lows in national currency value, prompting protests. Supreme Leader Ali Khamenei’s stance against US negotiations adds to market uncertainty.

On Friday, Iran’s Central Bank revealed the introduction of a new series of banknotes, with a denomination of 200,000 Toman (approximately 1.9 USD). This banknote prominently features the Mosque of Ruhollah Khomeini in Isfahan on its front and displays a painting entitled “Chogan,” created by artist Mahmoud Farshchian, on its reverse side.

The release of this new currency comes amid significant social unrest and protests in Iran, driven largely by deteriorating economic conditions and the sharp decline of the national currency, which has recently fallen to unprecedented lows. As a result of these economic challenges, the value of the US dollar has surged to an alarming 95,300 Toman, while the price of gold bullion has exceeded 79 million Toman.

This depreciation follows statements made by Supreme Leader Ali Khamenei, who reaffirmed his stance against engaging in negotiations with the United States. His comments have contributed to heightened uncertainty and volatility within the Iranian markets, exacerbating the economic crises faced by many citizens.

The Iranian Central Bank’s introduction of the new 200,000 Toman banknote symbolizes an attempt to combat ongoing economic turmoil amidst severe inflation and a plummeting national currency. The rampant devaluation of the Toman, coinciding with the Supreme Leader’s rejection of negotiations with the US, has incited widespread public protests and diminished market confidence.

Original Source: shafaq.com