Iran's rial hit a record low, the free-market dollar crossed 240,000 tomans and is trading around 243,000-244,000.

INTELLIGENCE SUMMARY

Iran's rial hit a record low, the free-market dollar crossed 240,000 tomans and is trading around 243,000-244,000. The currency has more than doubled in a year (was ~111,000 tomans per dollar a year ago). The official rate remains at ~173,000 tomans, creating a massive gap.