Business

Afghani gains 40 percent against Iranian Toman in past year

Iranian media outlets report that the value of the Afghan afghani has surged by 40 percent against the Iranian toman over the past year, marking an unprecedented rise.

The reports note that the afghani has outpaced other widely used currencies in Iran, with the Turkish lira appreciating 8.3 percent and the Iraqi dinar rising 32 percent in value.

Currently, one afghani trades at 992 tomans in Iranian markets, compared to 694 tomans during the same period last year. This year’s high for the afghani was recorded in early November, when its value briefly reached 1,146 tomans.

In comparison, the Turkish lira is currently valued at 1,950 tomans, up from 1,800 tomans a year ago, marking an 8.3 percent increase over the past year despite a recent 1.5 percent decline. Meanwhile, the Iraqi dinar has gained 32 percent in the same period, now trading at 52 tomans compared to 39 tomans last year, though it has recently slipped by 0.38 percent.

The strong appreciation of the afghani against the toman underscores shifts in regional currency values, likely influenced by both domestic economic policies and external factors affecting trade and exchange rates in Iran.