The new ban on foreign exchange and the Central Bank’s currency in the market
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According to Iran Economist, the dollar price increased by 200 tomans yesterday and approached the corridor of 50 thousand tomans. Yesterday, the members of the parliament imposed a new ban on buying and selling currency, and with this action, they left the hands of the central bank more open than before.
The price of the dollar increased by 200 to 250 tomans on the first day of this week and traded at 49,750 to 49,800 tomans. Traders believed that the increase in the price of the dollar last day was affected by the growth of demand in the foreign exchange market. In yesterday’s market, some traders were not willing to sell their currencies for fear of the dollar price jumping to the 50 thousand toman corridor.
In recent days, the most important signal that has attracted the attention of foreign exchange market traders was the issue of new US sanctions in relation to Iran. Economic experts believe that the sanctions have been leveraged in the shadow of the events that happened in the international monetary system and have had very severe effects. They emphasize that production in the country has decreased in the past decade and the country’s capital base has been depleted during the aforementioned period. The country creates less value and is more helpless in the face of crises.
It should be mentioned that yesterday the Islamic Council approved the new currency ban and left the Central Bank’s hands open regarding it. Regarding the new currency ban, the legislative body has said that any advertising of illegal currency purchase and sale in the media and virtual space and currency purchase and sale outside the rules and regulations announced by the Central Bank are prohibited. It has also been announced that all transactions in Iran’s currency and gold exchange center, including currency (banknotes and remittances), gold bars and coins, and precious metals, are exempt from paying any taxes.
The price of different rates
Yesterday, the price of the dollar in neighboring markets was accompanied by an increase in the price of the dollar in Tehran. Herat dollar was traded at the price of 49 thousand 500 tomans and increased by 210 tomans. The price of Sulaymaniyah dollar was 49 thousand 350 tomans and increased by 150 tomans.
Yesterday, the 8th of Mehr, the dollar bill was offered at the price of 41 thousand and 199 tomans on the website of the foreign exchange market, and it increased by 5 tomans. Dollar remittance was also increased by the same amount and was offered at 37 thousand 454 tomans. Also, the price of half a dollar remained constant at 28 thousand 500 tomans as in previous weeks.
Effective currency prices
Yesterday, the euro banknote was traded at 52,435 tomans. The price of euro banknotes on the website of the foreign exchange market closed at 43 thousand 606 tomans and the euro money order at 39 thousand 642 tomans.
In the last transaction yesterday, the UAE dirham was traded at 13,600 tomans and increased by 30 tomans. The price of remittances and dirham bills changed by one toman on the website of the foreign exchange market. The dirham remittance was exchanged for 10 thousand 198 tomans and the dirham banknote was sold at the price of 11 thousand 218 tomans.