Title: Currency Markets Await Policy Signals as Inflation Data Released
Market Analysis: A Week of Fluctuations
Recent days have seen significant volatility in Iran’s foreign exchange market, according to Pouyan Mazaari, a capital market expert. Last week, exchange rates experienced a notable rise, reaching a high before entering a corrective phase. Following this, the market stabilized, fluctuating within a defined price channel.
Mazaari noted that a key technical support level, which had previously acted as a resistance point earlier in the year, held firm. This prevented the market from declining further, establishing a new baseline for trading activity.
External Factors and Market Stability
The expert highlighted that several important developments influenced market trends. Among the most significant were reports indicating that Iran’s oil exports remain stable, facing no major disruptions in volume or continuity. This positive economic news contributed to a period of relative calm and a downward trend in exchange rates.
Inflation Data Presents New Outlook
However, Mazaari emphasized that newly released inflation data for the current Iranian month has introduced a new dynamic. “Given the growth in inflation,” he stated, “it can be expected that the currency market will re-enter a growth phase in the medium term.”
Future Outlook Hinges on Policy
The expert concluded by stressing that the outlook for the coming weeks is highly dependent on the country’s currency policies. With the new inflation rate in view, a renewed increase in exchange rates is possible. Current estimates suggest that the equilibrium exchange rate could reach a specific level by the end of the year, reflecting the interplay of domestic economic indicators and policy measures.