Foreign currency prices increase in Iran; US dollar crosses 26,000 Tomans mark
The price of reputable foreign currencies in the domestic market of Iran increased on Tuesday, August 9, and according to the report of the "Bonbast" website, which reflects the prices of foreign currencies, the price of one US dollar crossed the 26,000 tomans mark and was sold for 26,350 tomans.
Also, according to the deadlock report, on Tuesday, as of 5:00 PM Tehran time, each euro was sold for 30,885 Tomans and each pound for 36,510 Tomans.
The Islamic Republic of Iran News Agency, IRNA, confirmed the increase in the price of foreign currencies, but stated that the price of one US dollar was less than 26,000 Tomans.
The Tejarat News website has cited the main reason for the increase in the price of the US dollar as "increased demand for remittances."
At the same time, according to some experts, uncertainty about Iran's willingness to return to negotiations to revive the JCPOA, which could clarify the status of Iran's oil and financial sanctions and, consequently, the government's financial resources, has contributed to the recent turbulence in the foreign exchange market in Iran.
Bloomberg News reported that with the resumption of the Vienna talks currently in limbo, US officials are considering various options. One possible option, Bloomberg reported, citing unnamed sources familiar with the matter, is to lift a handful of sanctions on Iran in exchange for halting its most sensitive nuclear activity.
The news agency quoted experts as saying that if the pressure of sanctions eases, Iran could increase its oil production to one million barrels per day within a few months.
Source: Voice of America
