According to local Iranian websites, the price of the dollar fell in the free market from 182,350 tomans to 175,210 tomans, which is equivalent to about 1,752,000 riyals to the dollar, amid transactions that tended to decline compared to the previous day.
The Iranian market relies on the toman in daily pricing, while the official currency remains the riyal, noting that one toman equals 10 riyals.
Data from the Iranian “Alan Chand” website for monitoring currency rates showed that the purchase price of the dollar reached 176,400 tomans, compared to 178,200 tomans for sale. The selling price of the euro was 209,400 tomans, and the UAE dirham was 48,500 tomans.
Yesterday, Tuesday, the dollar approached the level of 190,000 tomans, before falling to about 181,000 tomans, according to the Iranian “Eqtisad News” website, which indicated that the gold and currency markets had entered a downward path due to “political signals” and the exit of part of the liquidity from the currency market.
This decline coincided with a decline in gold and bullion prices inside Iran, while the market trend remained linked to political developments related to the war and the Strait of Hormuz.
On the other hand, Reuters quoted a Pakistani source familiar with the mediation efforts as saying that the United States and Iran are close to agreeing to a one-page memorandum of understanding to end the war.
According to the agency, the proposed understanding aims to establish a preliminary framework to stop the fighting and open a broader negotiating path regarding the controversial issues between the two sides, in light of a mediation role played by Pakistan between Washington and Tehran.
Neither Iran nor the United States have yet announced reaching a final agreement, while markets continue to price in the possibilities of calm or a return to escalation, after the exchange rate in Iran remained highly affected by any development related to the war, the Strait of Hormuz, or US sanctions. (Al Jazeera)
