The price of the dollar opened on Sunday, November 24, 1405, with a decrease of three thousand tomans compared to the first day of the week, at the figure of 266 thousand tomans. This banknote continued to decline during the trading and fell back to the range of 265 thousand tomans.
It should be mentioned that the currency market decreased in value on the second trading day of the week, contrary to the expectations that were formed from the growth of the dollar price in back-line transactions. This reduction was achieved in a situation where the political developments are still in an aura of uncertainty and no definitive news has been published about the progress of the negotiations between Iran and the United States. It seems that in such an environment, traders’ caution and the market maker’s efforts to manage supply and demand have played a more prominent role in determining the price of the dollar.
Political developments still do not give a clear signal to the currency market
The political environment is still one of the main variables affecting currency expectations. Qatar’s efforts to mediate between Tehran and Washington continue, and the Qatari authorities have announced that they will follow up on these consultations. However, the differences between the two sides over the conditions for the start of negotiations still persist.
In recent days, the different statements of American officials about the possibility of an agreement and the continuation of economic pressure on Iran have not given traders a clear perspective. On the other hand, Iranian officials have also emphasized the necessity of fulfilling Tehran’s conditions before the start of negotiations. The recent reports of Reuters and Associated Press also indicate the continuation of disputes and uncertainty of diplomatic efforts.
Dollar price forecast
Economic experts believe that the decrease in demand for purchases at high prices and the continued caution of traders can prevent the quick return of the American bill to the corridor of 270 thousand tomans in the short term.
According to the trading process on Sunday, they expect the dollar price to fluctuate between 264 and 266 thousand tomans at the beginning of Monday trading. If the supply of currency in the market continues and no new political news with an increasing effect is published, there is a possibility that the dollar will move towards the range of 263-264 thousand Tomans.
On the other hand, if the precautionary demand is strengthened again or negative news of political and regional developments is published, there is a possibility that the price will return to the range of 267 to 270 thousand tomans. Also, any positive and reliable news of the progress of mediations can strengthen the downward expectations and provide the basis for further price retreat.
