According to a report by the state news agency IRNA, the price of the dollar in the free market of Tehran has increased by 95 tomans from the beginning of the week until Wednesday, December 3rd. On Wednesday, the dollar price reached 3583 tomans. The report states that on Wednesday, the euro in the free market also rose by 40 tomans compared to Tuesday, reaching 4388 tomans, and the pound increased by 60 tomans to be traded at 5590 tomans. The news agency had previously reported that currency and coin traders set the price of each US dollar at 3530 tomans on Tuesday, January 1, an increase of 42 tomans compared to Saturday. Over the past year, the exchange rates of foreign currencies in the Iranian market have faced minimal changes and stability, but since the second week of Azar (December), these rates have started to rise again. Experts in monetary and banking affairs in Iran had stated that people expected the nuclear negotiations to yield results, but after the extension of the negotiations, the demand for buying dollars increased, leading to a rise in the dollar rate in the market. Kamal Seyed Ali, former currency deputy of the Central Bank, mentioned that economic actors expected a final agreement from the nuclear negotiations before December 3rd, which created a wave of buying in the market after the negotiations were extended. Meanwhile, Ali Tayebnia, Iran's Minister of Economy, stated that there have been no significant changes in the fundamental conditions of the currency and investment market in Iran, and they expect stability in the currency and investment market. Valiollah Seif, the head of the Central Bank, also emphasized that Iran's negotiations with the 1+5 group have progressed positively and there is no reason for fluctuations in the dollar and currency market. However, the Iranian labor news agency ILNA reported on December 10 that these statements from Iranian officials have not had an impact and have not reduced foreign currency prices. The deadline for negotiations between Iran and the 1+5 group ended on December 3, but the parties extended the talks for another seven months to reach a comprehensive nuclear agreement. The first round of comprehensive nuclear talks between Iran and the 1+5 group during the seven-month extension ended on Wednesday, December 26, in Geneva, and the continuation of these negotiations has been postponed to mid-January, about a month later.
Continued Increase in Dollar Price in Iran Market: 3583 Tomans
The price of the dollar in Iran's free market has risen to 3583 tomans, reflecting increased demand following the extension of nuclear negotiations. Economic experts suggest that this rise is due to public expectations of a favorable outcome from the talks, which have now been extended for seven months. The situation highlights ongoing economic instability amidst political negotiations.
👥 Key Players
📰 What Happened
The price of the dollar in Iran's free market has risen to 3583 tomans, driven by increased demand following the extension of nuclear negotiations. This rise reflects public expectations for a favorable outcome from the talks.
- The dollar price increased by 95 tomans from the beginning of the week.
- Nuclear negotiations with the 1+5 group have been extended for another seven months.
💡 Why It Matters
📚 Background
Iran's economy is heavily influenced by international sanctions and negotiations regarding its nuclear program, which affect currency stability.
🏷️ Entities Mentioned
Translated from the original and edited for English readers. View original source →
Translation confidence: 85%