Dollar Price Today, Wednesday, October 14: Dollar Reaches 260,000 Tomans

The currency market opened today with an upward fluctuation and the dollar at 260,000 tomans. Trading patterns show that the new currency injection policy has curbed last week's upward momentum and kept the greenback from entering the 270,000-toman channel.

According to the report of economic reporter Sefir Arjan, the foreign exchange market started its work today while the price of the US dollar settled down in the range of 260,000 tomans. Although this figure indicates an increase of about three thousand tomans compared to the last trading of the previous day, it is still trading lower than the peaks recorded last week.

On the other hand, the trading boards of today's market witnessed the price of 292,000 Tomans for the Euro and 71,200 Tomans for the UAE Dirham.

tracking rates in the exchange center; Massive increase in remittances

On the other hand, checking the latest statistics of Iran's currency and gold exchange center shows the upward trend of remittance rates. Based on this, the purchase rate of the US dollar remittance reached 178,931 tomans with an increase of 535 tomans compared to the previous day, and its selling rate also increased by 540 tomans to 180,556 tomans. In the Euro remittance market today, the purchase rate reached 200,314 Tomans with a significant jump of 1,272 Tomans to officially step into the upper channel. While its sales rate increased by 1,284 tomans and stood at 202,134 tomans. Also, in the UAE dirham remittance market, the buying rate increased by 146 tomans to 48,722 tomans and the selling rate increased by 147 tomans to 49,164 tomans.

A look at the developments of recent weeks shows that the monetary and foreign exchange policies of the Central Bank have played a serious braking role against the market's emotions. From Saturday, the 11th of October, the injection of a new phase of quota currency with a significant volume of two billion dollar bills was started in the banking network and exchange offices; A formula that, as soon as it was implemented, accelerated the growth of the dollar and significantly narrowed the range of daily fluctuations of the market.

Economic and foreign exchange experts believe that the time symmetry of the start of this injection, with the dollar price approaching the sensitive threshold of the 270 thousand toman channel, was the most important point of the maximum effectiveness of this intervention. According to these analysts, if the market maker started injecting currency early at lower price levels, its effectiveness would lose its color against the growing flow of demand and the currency capital would be wasted.