Title: Market Stability Prevails as Political and Economic Measures Shape Currency Landscape
Tehran – The Iranian currency market exhibited a notable trend of stabilization on Tuesday, with key indicators pointing towards a controlled and balanced trading environment, influenced by a combination of economic measures and positive political developments.
Unofficial Market Sees Gradual Decline
Trading for the US dollar in the unofficial market commenced at 107,450 Tomans and concluded at 107,500 Tomans, marking a slight decrease of approximately 450 Tomans compared to the previous day. This minor adjustment reflects a broader trend of moderation in the market.
Factors Behind the Stability
Analysts attribute the current stability around the 107,000 Tomans level to several key factors:
- Increased Currency Supply: A heightened injection of foreign currency into both the official and unofficial markets.
- Diminished Inflationary Expectations: A calming of market sentiment regarding future inflation.
- Reduced Speculative Demand: A noticeable decline in speculative purchasing of foreign currency.
- Positive Political News: Recent constructive diplomatic statements, particularly concerning Iran’s cooperation with international bodies, have contributed to bolstering market confidence.
Tether Maintains Unprecedented Equilibrium
In a rare and significant development, the price of Tether (USDT) has remained stable for 72 consecutive hours, trading steadily at 108,500 Tomans. This prolonged period of price equilibrium, characterized by a balance between supply and demand, is an uncommon occurrence in the market, signaling a period of heightened predictability.
Official Market Records Modest Increases
Conversely, the official exchange market, as reported by the Iran Exchange Center, witnessed modest price increases for a second consecutive day. The banknote rate for the US dollar was set at 71,978 Tomans, while the wire transfer rate reached 69,881 Tomans. The Euro also saw gains, with its banknote rate quoted at 83,749 Tomans and the wire transfer rate at 81,310 Tomans.
Expert Outlook and Forecast
Market experts suggest that the recent corrective fluctuations are a direct result of the aforementioned factors, including the increased supply and the positive impact of international diplomatic engagement. The prevailing expert consensus indicates that, barring any new and significant market signals, the US dollar is expected to continue trading within a narrow range of 107,000 to 108,000 Tomans. The market is currently navigating this period of stability, underpinned by strategic economic provisions and awaiting further political and economic directives.