USD/IRR Exchange Rate July 2026: Rial, Dollar and U.S.-Iran Talks

ForexUSD/IRR Exchange Rate July 2026: Rial, Dollar and U.S.-Iran Talks

Date:

Updated 28 October 2026: rewritten, expanded and fact-checked against the sources listed in the article.

The US dollar index was little changed at the end of the week of 10 July 2026, as Washington and Tehran agreed to return to negotiations after a week of strikes. A dpa-AFX market report put the ICE US Dollar Index (DXY) at 100.98, and Yahoo Finance data show a close of 100.97 on 10 July. That story was about the dollar against major currencies such as the euro and yen, not the Iranian rial. The rial has its own, much more dramatic story, explained below.

What happened in the talks

According to dpa-AFX, the United States and Iran had signed an interim agreement on 17 June that was meant to halt attacks for 60 days. In the week of 6 July, vessels in the Strait of Hormuz were hit by projectiles. US forces then struck more than 80 sites in Iran on Tuesday and nearly 90 on Wednesday, and Iran’s Revolutionary Guards targeted US bases in Kuwait, Bahrain, Qatar and Jordan. President Trump said the agreement was over but that he had let negotiations continue. On Thursday he said Iran had asked to keep talking and the US had agreed.

The report cited Axios as saying that officials from Qatar, Pakistan, Turkey, Egypt and Saudi Arabia held calls with both sides. It also cited Reuters as saying that a Qatari team was in Iran to prepare the next round. The war itself began in late February 2026 (overview).

The dollar index in July

For the DXY, the prospect of a pause in fighting weighed slightly on the dollar, dpa-AFX said. Fed minutes released that week also mattered: nine of 18 policymakers expected at least one rate hike before year-end. Yahoo Finance daily data show:

Date DXY close
31 Dec 2025 98.28
30 Jun 2026 101.19
8 Jul 2026 101.05
10 Jul 2026 100.97
27 Oct 2026 102.32

The index measures the dollar against six major currencies. The rial is not one of them. Our guide to the US Dollar Index explains how it is built and what moves it. For that week’s Fed angle, see our DXY report from 9 July.

USD/IRR: why there is more than one rate

Iran does not have a single exchange rate, so any “USD/IRR” figure needs a label.

  • Official rate. The Central Bank of Iran (CBI) publishes daily rates sourced from its electronic trading system. On 28 October 2026 it listed the US dollar at 1,864,200 rials (CBI exchange rates).
  • Open-market (free) rate. This is what households and most businesses pay in exchange shops. It is tracked by sites such as Bonbast, which quote prices in tomans (1 toman = 10 rials). Iran International reported that the dollar reached a record 2 million rials on 23 August 2026. That was up from about 1.865 million a week earlier and about 958,000 a year earlier. On 29 September it reported that the rial had slid past 2.5 million per dollar, from 2.418 million the day before.

Iran International noted that open-market quotes vary between sources because trading is informal and fragmented. We could not verify a reliably dated open-market quote for 10 July itself, so we do not give one.

The redenomination plan

Because the numbers are so large, Iranians usually talk in tomans. On 5 October 2025 parliament approved a bill to remove four zeros from the rial by 144 votes to 108. Under the bill, one new rial would equal 10,000 current rials and be divided into 100 qirans. Old and new notes would circulate together for up to three years. The name stays “rial”: earlier plans to rename the currency the toman were dropped. Iran International noted that the bill still needed approval from the Guardian Council. We could not confirm when, or whether, it took effect, and redenomination does not change the currency’s real value.

What drove the rial

In its August report Iran International listed high inflation, falling foreign-exchange revenue, sanctions, disruption to oil exports and the US-Iran deadlock. It quoted central bank governor Abdolnasser Hemmati as saying oil exports had almost stopped and that about $12 billion of Iranian funds in Qatar remained frozen. The same report noted Trump’s announcement of an “Economic D-Day” pressure campaign. Dollar stablecoins are another channel under pressure: Tether has frozen Iran-linked USDT wallets.

What happened next

The July return to talks did not stabilise the currency. By late September, Iran International reported, Iran was waiting for an official US response relayed through Qatar, and Foreign Minister Abbas Araghchi said Iran had made no concessions. On that report’s figures, Iran’s minimum monthly wage of 166 million rials was worth about $66. On 27 October 2026 the DXY closed at 102.32, up 1.3% from 10 July and up 4.1% for the year (Yahoo Finance).

Corrections to our earlier version

An earlier version of this article said the rate was “approximately 42,000 IRR per USD” and up 1.2% that week. No 2026 rate supports either figure: the official rate was about 1.86 million rials in October and the open-market rate was above 2 million from August. It also quoted a “Dr. Sarah Alavi”, whom we could not identify, and treated the dpa-AFX story as a report on the rial. Those claims have been removed.

What to watch

  • The gap between the CBI rate and open-market quotes, a rough gauge of stress.
  • Any signed US-Iran agreement and its terms on oil exports and frozen funds.
  • The Guardian Council’s decision on removing four zeros.

Sources

Disclosure: this page contains a sponsored (affiliate) link. CryptoUpdate.io may earn a commission if you sign up through it; this does not influence our coverage. See our editorial policy.

How this article was made: first published on 11 July 2026 as an AI-assisted rewrite of a news report (original report by dpa-AFX: TradingView News). On 28 October 2026 it was rewritten and expanded with AI assistance, and its facts and figures were checked against the primary sources linked above. How we work · Report an error

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CryptoUpdate Newsroom is the shared byline for news articles on CryptoUpdate.io. Most of these articles are AI-assisted rewrites of reports from cited third-party sources, published under our editorial policy (cryptoupdate.io/editorial-policy/). Corrections and questions: [email protected].

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