Title: Market Watch: Central Bank Policy Meets Currency and Gold Fluctuations
Tehran – As financial markets resumed activity this Saturday, significant price movements were recorded across key currency and gold sectors, against the backdrop of new monetary policies being implemented by the Central Bank.
Currency Markets See Notable Shifts
The US dollar experienced considerable volatility in the open market, with its price settling near 117,860 tomans, marking an increase of over 3,000 tomans. This follows a cumulative rise of 7,700 tomans throughout the previous week. Official exchange centers, however, listed the transfer rate for the US dollar at 70,132 tomans and the banknote rate at 71,668 tomans.
The Euro also saw upward momentum. In the official exchange center, the Euro banknote was priced at 84,037 tomans, while its transfer rate was 82,330 tomans. The open market witnessed a more pronounced increase, with the Euro’s value rising by 4,300 tomans to reach 138,410 tomans. Other major currencies, including the UAE Dirham and the British Pound, followed a similar trend of appreciation.
Precious Metals on an Upward Trajectory
Parallel to the currency movements, the gold and coin markets registered substantial gains. The price of an 18-karat gold gram climbed to 11,081,000 tomans, reflecting an increase of over one million tomans in the past week. The benchmark ‘Emami’ gold coin entered the 117 million toman range, with its price reaching 117,010,000 tomans—an increase of 8.52 million tomans over the week.
Other coin categories, including the ‘Bahar Azadi’ and fractional coins, also recorded significant price hikes, with the quarter-coin reaching 35.8 million tomans.
Policy Context
These market developments coincide with the Central Bank’s execution of new policies for the current week, highlighting the dynamic interplay between monetary regulation and market responses. The data provides a snapshot of the economic landscape as it adapts to evolving financial measures.