APR 27, 2024 JLM 59°F 09:51 PM 02:51 PM EST
Hope is fading among traders in Tehran

The exchange rate of the Iranian Rial has become a sort of barometer of the business sector in Iran over the past few years. Therefore, judging by the last month, pessimism is back to normal among traders.

Today, the dollar was traded on the black market for 317,000 riyals, an increase of about 13% compared to the mid-August rate.

About a month ago there was great optimism in the Iranian economy that after over a year of negotiations with the US the nuclear deal and the lifting of sanctions is close.

Today, as mentioned, there is an internalization that the agreement is not close.

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