The trend of depreciation of the dollar intensified / recording the lowest price in the last 3 weeks

According to the IBNA reporter, the selling rate of each US dollar banknote in the bank exchange offices at the moment of preparing the news is 25,570 Tomans and the purchase rate with 1,000 Tomans is 24,570 Tomans. Each euro is priced at 31,420 tomans for sale and 30,420 tomans for purchase in bank exchanges.

Currency prices in the market have been declining steadily since Biden took office. However, we have also seen resistance from traders to prevent further price reductions these days.

The Governor of the Central Bank also stated last night in a note about the exchange rate trend: Resistance to exchange rate depreciation can be understood by those who have foreign exchange. However, the fundamental factors of the market will impose their conditions in any case. In this regard, the hesitation of importers to buy currency in the Nima system is also understandable.

Based on all these factors, and relying on its market power, the central bank monitors the exchange rate movement and manages it based on its set of policy objectives, available resources and tools.