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No. 16

28 Mehr 1405

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Dollar at 2,648,000 Rial, Up 14.8% in a Month

Three topics the state's outlets and Iranians outside the state both covered on October 20, quoted verbatim side by side.

45 state items and 106 non-state items, 24 hours to midnight Tehran time.

Rial per dollar, free-market close, last 120 daysA higher line is a weaker rial. Shaded: the 30 days behind the headline. tgju.org
Free-market dollar in rial, daily close, June 22, 2026 to Oct. 20, 2026; last close 2,648,000 rial (tgju.org)1.50m2.00m3.00mup 14.8% in 30 daysJulAugSepOct2.648mFree-market dollar in rial, daily close, June 22, 2026 to Oct. 20, 2026; last close 2,648,000 rial (tgju.org)1.50m2.00m3.00mup 14.8% in 30 daysJulAugSepOct2.648m

Markets Latest close on or before Tuesday, October 20, 2026. Changes are from the prior close; up, down.

  • Dollar, free market

    2,648,000 rial

    up 0.53% from prior close

    tgju.org

  • Tether (USDT)

    2,600,050 rial

    up 0.04% from prior close

    tgju.org

  • Emami gold coin

    2,661,300,000 rial

    up 0.30% from prior close

    tgju.org

  • TEDPIX, Tehran Stock Exchange

    8,272,444

    up 0.23% from prior close

    tgju.org

  • Strait of Hormuz transits

    4 ships

    2 tankers, both directions

    Data to Oct. 18: PortWatch posts with a lagIMF PortWatch

Tehran Says

Verbatim, from state and state-aligned outlets

Screenshot of the page cited for topic 1 on mehrnews.com, headline in Persian
Topic 1 source as published on Oct. 20, 2026: Mehr, mehrnews.com. Screenshot taken Oct. 21, 2026, the day after.

Iran Shows

Markets, official lists, voices outside the state

Screenshot of the page cited for topic 1 on etemadnewspaper.ir, headline in Persian
Topic 1 source as published on Oct. 20, 2026: Etemad, etemadnewspaper.ir. Screenshot taken Oct. 21, 2026, the day after.

1Foreign Exchange Market and Central Bank StanceLink

Shown: one item per side, chosen from 5 on this topic that day (4 state, 1 non-state). All of them are on the researcher pages.

Tehran Says

State and state-aligned outlets

Mehr, in its own words

The Central Bank is not seeking to put a floor under the dollar price; a fall in the dollar is possible.

Machine translation

بانک مرکزی به دنبال کف‌سازی قیمت دلار نیست؛ امکان ریزش دلار وجود دارد.

Persian original

Mehr, «بانک مرکزی به دنبال کف‌سازی قیمت دلار نیست؛ امکان ریزش دلار وجود دارد», October 20, 2026, 14:56 Tehran time, mehrnews.com.

Iran Shows

Reformist dailies inside Iran

Etemad, in its own words

Will the inflation engine calm down in the second half of the year?

Machine translation

موتور تورم در نيمه دوم سال آرام خواهد شد؟.

Persian original

Etemad, «موتور تورم در نيمه دوم سال آرام خواهد شد؟», October 20, 2026, etemadnewspaper.ir.

Market figure

Dollar, free market

14.8% up in 30 days

From 2,306,000 rial on Sep. 20

Latest figure: market strip at the top of the page

low 1.85m2.648mAug. 9Oct. 20
Daily close, rial, last 60 closes
low 1.85m2.648mAug. 9Oct. 20
Daily close, rial, last 60 closes

tgju.org, Dollar, free market, October 20, 2026, tgju.org.

2Tax Exemption for Housing and Child AllowancesLink

Shown: one item per side, chosen from 4 on this topic that day (2 state, 2 non-state). All of them are on the researcher pages.

Tehran Says

State and state-aligned outlets

Mizan, in its own words

Employee welfare benefits were made exempt from tax.

Machine translation

مزایای رفاهی کارکنان مشمول معافیت شد.

Persian original

Mizan, «مزایای رفاهی کارکنان مشمول معافیت شد», October 20, 2026, 14:12 Tehran time, mizanonline.ir.

Iran Shows

Reformist dailies inside Iran

Shargh, in its own words

According to a new circular by Sobhaniyan, the head of the Tax Administration Organization, employee welfare and incentive benefits, including housing allowance, family allowance, child allowance and allowances for household consumable items, have been declared tax-exempt within customary limits and in accordance with the rules announced for the private and public sectors.

Machine translation

بر اساس بخشنامه جدید سبحانیان رئیس کل سازمان امور مالیاتی، مزایای رفاهی و انگیزشی کارکنان از جمله کمک‌هزینه مسکن، عائله‌مندی، حق اولاد و کمک‌هزینه اقلام مصرفی خانوار، در حدود متعارف و مطابق ضوابط اعلام‌شده برای بخش خصوصی و دولتی، از مالیات معاف اعلام شده است.

Persian original

Shargh, «معافیت مالیاتی حق مسکن و حق اولاد اعلام شد + بخشنامه», October 20, 2026, 13:44 Tehran time, sharghdaily.com.

3Strait of Hormuz Security IncidentsLink

Shown: one item per side, chosen from 4 on this topic that day (1 state, 3 non-state). All of them are on the researcher pages.

Tehran Says

State and state-aligned outlets

IRGC Public Relations روابط عمومی سپاه, as quoted by Mehr

Sepah public relations announced that two offending oil tankers, following the explosion of naval mines on the illegal southern route of the Strait of Hormuz, were set on fire and stopped.

Machine translation

روابط عمومی سپاه اعلام کرد که دو فروند نفتکش متخلف در پی انفجار مین‌های دریایی در مسیر غیرقانونی جنوب تنگه هرمز به آتش کشیده و متوقف شده‌اند.

Persian original

Mehr, «سپاه: دو نفتکش متخلف در تنگه هرمز متوقف شدند», October 20, 2026, 13:06 Tehran time, mehrnews.com.

Iran Shows

Reformist dailies inside Iran

Ham-Mihan, in its own words

Analysis by the former head of MI6 on the Middle East situation: there is a diplomatic solution for resolving the Strait of Hormuz issue.

Machine translation

تحلیل رئیس پیشین ام‌آی‌۶ از وضعیت خاورمیانه: برای حل مساله تنگه هرمز راه‌حل دیپلماتیک هست

Persian original

Ham-Mihan, «تحلیل رئیس پیشین ام‌آی‌۶ از وضعیت خاورمیانه: برای حل مساله تنگه هرمز راه‌حل دیپلماتیک هست», October 20, 2026, 14:37 Tehran time, hammihanonline.ir.

Market figure

Strait of Hormuz transits

3.7 ships a day, 7-day average

2 tankers among the 4 ships on Oct. 18, 2026

7-day average to Oct. 18, 2026, the latest day IMF PortWatch has posted by Oct. 20

Latest figure: market strip at the top of the page

high 804Sep. 19Oct. 18
Ships through the strait a day, both directions; the line is the 7-day average
high 804Sep. 19Oct. 18
Ships through the strait a day, both directions; the line is the 7-day average

IMF PortWatch, Strait of Hormuz transits, October 18, 2026, portwatch.imf.org.

Sanctions and courts, October 20, 2026: no new U.S. Treasury Iran designations and no new U.S. federal court filings naming Iran.

Oil: Brent crude 126.55 dollars a barrel on October 14, 2026. That is the newest daily price the U.S. Energy Information Administration had posted by October 20; EIA publishes daily prices several days late, so this one is 6 days older than the edition.

How This Edition Was Made

Items: everything MEF's Persian press monitor captured from 14 outlets between October 20, 2026 00:00 and 24:00 Tehran time (45 state, 106 non-state). Pairs: topics ranked by how many items they drew across both sides; the top topics with a state item and a non-state item or figure appear. Translation: one model translates, a second translates back into Persian, a third compares; only close matches appear. Full method.

Edition of Tuesday, October 20, 2026
Prepared October 21, 2026

Cite as: Middle East Forum, "Two Irans, October 20, 2026," https://iran.meforum.org/two-irans/2026-10-20/.