On February 12, 2025, the Iranian currency market witnessed a significant drop in prices following recent negotiations between Iran and the United States held in Oman. The free market saw the dollar plummet by over 7,000 Tomans, indicating a shift in trading dynamics.
According to reports from ISNA, in Ferdowsi Square, the dollar was being purchased from intermediaries at prices ranging from 86,000 to 87,000 Tomans. These same intermediaries were selling the dollar for around 88,000 Tomans, a notable decrease from the previous day’s higher rates. Just an hour before this drop, the dollar was being offered for sale at 90,000 to 91,000 Tomans, which means that within a short period, the dollar’s price fell by more than 3,000 Tomans.
The situation was similar for the euro, which also saw a significant reduction in price. At the beginning of trading, intermediaries announced the sale of euros at 103,000 to 104,000 Tomans. However, within an hour, some brokers had lowered the price to 98,000 Tomans, reflecting the overall downward trend in currency values.
Market observers noted that the current trading environment is calmer compared to the period leading up to the Nowruz holidays. More participants in the market were seen selling currencies, which is attributed to the ongoing decrease in currency prices and a reduction in political risks following the Oman negotiations. Last week, the dollar was trading at a staggering 106,000 Tomans, which means that the current price represents a drop of 18,000 to 19,000 Tomans from that peak.
In a related development, the Iranian gold and currency exchange center reported that on the same day, the price of the dollar decreased to 70,729 Tomans, while the euro was priced at 80,338 Tomans. The exchange rate for the dollar was also noted at 68,803 Tomans, indicating a broader trend of currency depreciation.
Further details from the Iranian gold and currency exchange center indicated that the price of the dirham was set at 19,259 Tomans, with the exchange rate at 18,734 Tomans. Additionally, the ruble was valued at 8,475 Tomans, reflecting the fluctuating nature of currency values in the current economic climate.
The national bank also reported a 0.14% decrease in the dollar price compared to the previous day, while the euro experienced a slight increase of 0.12%. This indicates a complex interplay of factors affecting currency values in Iran.
As brokers and intermediaries continue to adjust their pricing strategies, there is a growing sentiment that the downward trend in currency prices may persist throughout the day. Many market participants are closely monitoring developments, particularly in light of the recent diplomatic negotiations, which appear to have eased some of the political tensions that have historically influenced currency trading in the region.
Overall, the Iranian currency market is experiencing a period of volatility, with significant fluctuations in the prices of major currencies. The recent negotiations between Iran and the United States could play a pivotal role in shaping the future trajectory of these currency values, as traders and investors alike react to the changing dynamics.
In summary, the combination of recent diplomatic efforts and market reactions has led to a notable decrease in the prices of both the dollar and euro in Iran. As the situation continues to evolve, market participants remain vigilant, anticipating further changes in the currency landscape.
