Fluctuations in the Currency Market Continue; Dollar Enters the 57,000 Toman Channel

A review of websites and channels reporting gold and currency prices indicates that the trend of rising currency prices in the Tehran free market continues, with each US dollar today, Sunday, February 18, entering the 57,000 toman channel. Accordingly, as of the time of this report, each US dollar is sold for 57,150 tomans, each euro for 61,600 tomans, and each British pound for 72,000 tomans. Meanwhile, each old design Bahar Azadi coin is sold for 33,400,000 tomans, half a coin for 18,600,000 tomans, and a quarter coin for 11,600,000 tomans. Currency prices in the free market - recorded on February 18, 1402. According to this report, the dollar has experienced severe fluctuations in the past month, rising from the 50,000 toman channel to the 60,000 toman channel and then returning to the 54,000 toman channel. Experts attribute this price drop to the Central Bank's program of announcing the attraction of deposits with a 30% interest rate and the supply of gold and coins. Consequently, with the initial effects of these policies fading in the market and the end of the deposit acceptance period, the price of currency in the free market has begun to rise again. Some experts believe that considering the US Treasury's policies and the approaches of Iran's neighboring countries regarding currency relations, the dollar price will maintain its upward trend. In this context, Reuters reported on February 4 that after a senior US Treasury official's visit to Iraq, eight Iraqi banks were banned from US dollar transactions. Previously, the Iraqi government had also prohibited its banks and exchange offices from currency transactions with Iran. The US Treasury spokesperson had previously stated that Washington will continue to be a partner of Iraq in protecting its financial sector from the Islamic Republic of Iran's abuse or other malign actors. The slow and steady increase in currency prices has seen the dollar rise above 56,000 tomans. Market regulation is being funded by producers; the riddle of chicken prices; auctioning gold reserves to control the dollar; the Central Bank sold bullion at the free dollar price; a $3.5 billion decrease in Iran's deposits in foreign banks; an economic 'tsunami' is on the way, along with rising currency rates; fluctuations in meat and chicken prices in the free and official markets; and a surge in car prices in Iran, with imports rising by about one billion tomans.