The price of the dollar in Iran's free market has risen to 61,000 tomans

Reports from currency rate websites and channels in Iran indicate that the price of the dollar in the free market has reached 61,000 tomans. The dollar price, which was around 60,000 tomans in recent days, entered the 70,000 tomans range on Tuesday, July 4, and was traded at 61,000 tomans. The price of each new gold coin also increased to 42 million tomans on this day, and each gram of 18-carat gold was traded at 3 million and 461 thousand tomans. Some media outlets have reported that the increase in the dollar price is due to rising demand in the summer season and the presidential elections. The upward trend in foreign currency rates in Iran began four days before the elections. The 'Tejarat News' website reported that the presidential election is currently the most significant signal attracting the attention of financial market participants. Economic expert Barzoo Haqshenas told this site that the dollar price 'will decrease only if a candidate who emphasizes the need for dialogue with the West wins.' He added, 'If this discourse does not win votes, we will witness the beginning of an upward trend in the dollar this summer; because we have passed the phase of reduced demand for dollars in recent months, and with the arrival of summer and mid-July, the demand for dollars will increase, making things a bit difficult for the market maker.' The early presidential elections are scheduled to be held on July 8. Among the candidates in this election, at least three principlist candidates are staunchly opposed to reviving the JCPOA and negotiating with the West to reach an agreement to reduce Iran's nuclear activities while simultaneously easing sanctions.