Title: Currency Market Analysis: A Week of Moderate Fluctuations for Major Foreign Currencies
Tehran – The Iranian currency market concluded this week’s trading with a stabilized atmosphere, marked by moderate price adjustments for major foreign currencies. The market activity reflects the ongoing dynamics of the formal and secondary exchange sectors.
Week in Review: Market Stability
The trading week ended with the US dollar being quoted at approximately 110,250 tomans in the secondary market. As the new week begins, all major currencies have registered slight increases, indicating a period of controlled fluctuation rather than sharp volatility.
Official Exchange Center Rates
Transactions within the official financial system, governed by the Central Bank’s regulated exchange center, provide a baseline for formal trade and banking operations. The latest figures are as follows:
- US Dollar: The transfer rate was set at 70,389 tomans, while the physical banknote was listed at 71,849 tomans.
- Euro: The Euro banknote was reported at 83,609 tomans, with its transfer rate at 81,911 tomans.
- UAE Dirham: The Dirham banknote was priced at 19,571 tomans, and its transfer rate was 19,166 tomans.
Secondary Market Dynamics
The secondary market, which operates alongside the official system, also experienced incremental shifts. The Euro saw a notable increase, with its value reaching 128,470 tomans. Market analysts observe that the 128,000-toman level represents a significant resistance point for the currency.
Other major currencies followed a similar trend in this market. The British Pound traded at 148,160 tomans, and the Turkish Lira was exchanged at 2,630 tomans. The UAE Dirham also saw a modest rise, increasing by approximately 200 tomans to a value of 30,025 tomans.
The overall market behavior points towards a period of watchful calibration as economic participants navigate the interplay between different exchange rate platforms.