Today, Wednesday, October 8, 1405, the dollar price in the free market increased by two thousand tomans compared to yesterday, reaching 253 thousand tomans. This comes after the dollar closed at 251 thousand tomans yesterday. The trend of the dollar price, which has been rapidly increasing in recent days, continued its upward trajectory today, although this increase was accompanied by a slower pace compared to previous days.
Impact of Political Conditions on the Currency Market
In the short term, the most significant variable affecting the currency market is political issues. Receiving the conditions from the U.S. for an agreement by Abbas Araghchi and the possibility of continuing negotiations have somewhat moderated the market atmosphere and reduced the speed of price increases compared to previous days. However, traders still consider tensions more likely than reaching an agreement, and for this reason, the market remains on an upward path.
Read more: Guide to Choosing a Platform for Purchasing Gold in Installments with Key Criteria
Long-term Challenges of the Currency Market
In the long term, factors such as the shortage and blockage of currency entry channels will exert more sustained upward pressure on the market. The blockage of foreign currency resources entering the country has reduced supply in the market, and along with the currency shortage, has set the stage for price increases in the medium and long term. Completely resolving these shortages requires time, and for this reason, even if tensions decrease, the likelihood of a sustainable decrease in the dollar price in the short term seems low.
On the other side of the market, the euro also traded at 282 thousand tomans, increasing by two thousand tomans compared to yesterday. This price increase reflects the unstable economic situation and severe fluctuations in the currency market, which remains influenced by political and economic decisions.
Read more: Abbas Al-Nourouzi: Renovating Dilapidated Areas with a Key-to-Key Approach is Possible · Hassan Jarahi: How to Avoid Falling into the Trap of Fraudsters
