Iraqi Dinar Holds Steady Against Iranian Toman, Marking a Pause After Recent Gains
Market Stability Observed
The exchange rate for the Iraqi dinar remained stable in the Iranian market on Monday, September 10, 2024. The price for one hundred Iraqi dinars held firm at 7,430 Iranian tomans, showing no change from the previous day’s closing rate. This period of stability follows a notable period of appreciation for the currency.
Recent Performance and Trends
This steady performance comes after a significant increase of 190 tomans (2.62%) was recorded just the day before, on Sunday. Over the past week, the value of one hundred dinars has seen a substantial rise of 9.75 percent. The medium-term trend is also positive, with the dinar’s value appreciating by approximately 24.46 percent over the last six months, reflecting broader regional economic dynamics and strengthened bilateral trade relations.
Trading data from the past 24 hours shows the highest recorded price was 7,430 tomans, while the lowest was 7,240 tomans for one hundred dinars. The current rate is holding at the day’s high. Market analysts are observing this consolidation as traders assess the currency’s new level following its recent upward trajectory. The stability of the dinar is often viewed as an indicator of the economic interactions within the region.