Loading ...Inflation measured by gold in Iran. Truly a example that money isn’t everything. I’m surprised they aren’t leaving.
An ounce of gold costs approximately 5,624,071,122 Iranian Rials (IRR). [1]
The Real Market vs. Official Prices
- Free Market Rials: ~5.62 Billion IRR. This relies on actual trading values in the open market. [1, 2, 3]
- Free Market Tomans: ~562 Million Tomans. In daily life, Iranians drop one zero and talk in Tomans. This is the most practical price structure used inside the country. [1, 2, 3, 4]
- Government Official Rate: ~172 Million IRR. Iran’s heavily subsidized artificial exchange rate is fixed at 42,000 IRR per USD. This rate is rarely accessible to ordinary citizens or businesses. [1, 2]
The Math Behind the Price
This value is calculated by applying the current global spot price of gold against Iran’s currency: [1]
- Global Gold Price: One troy ounce sits around $4,096.30 USD.
- Open-Market Exchange Rate: The US Dollar trades at roughly 1,647,500 IRR (or 164,750 Tomans) on the open market