The US dollar and other foreign currencies continue to rise against the Iranian local currency (riyal), which has not stabilized since the United States withdrew from the agreement.
Continues U.S. dollar And the rest of the foreign currencies will rise against the Iranian local currency (riyal), which has not stabilized since the United States withdrew from the nuclear agreement in May 2018, while the currency began to record from time to time a major collapse.
The Iranian website “Eqtisad Online” stated that “the price of the dollar exceeded the barrier of 293,300 Iranian riyals in the local open markets, and it was approaching a record digital record for the value of one US dollar to reach 300 thousand riyals.
Sadaqat, the most important bank in Tehran, bought the US dollar at a value of 292,000 Iranian riyals, while the sale of the dollar was absent.
And the same exchange offered, on Sunday evening, the value of buying the dollar for tomorrow, Monday, at a price of 291,000 Iranian riyals, without offering a value for sale.
In late July, after a few critical days in the foreign exchange market, the price of the dollar reached about 250 thousand riyals, and with the shock of the increase, the Iranian government rushed and pumped billions of dollars into the market, and the rise in the dollar price stopped for a period of time, and it decreased to 210 thousand riyals. .
And in recent months, the Central Bank of Iran has repeatedly intervened to control the dollar’s price by injecting billions of hard currencies into the chaotic local exchange markets.
On August 7, the governor of the Central Bank of Iran, Abdel Nasser Hemmati, said that $ 2.5 billion in export earnings had been re-injected over the past ten days to control unrest in the market.
The central bank has always tried to control the currency market by injecting foreign currencies, but in recent months, due to the massive decline in Iranian oil sales, it failed to prevent the devaluation of the national currency.