In recent days, we have seen the dollar rise. On Friday, despite the closure of markets, the informal trading of the dollar caused the price growth to be more noticeable on Saturday. Estimates show that the growth of the dollar in recent days has been influenced by internal and external factors, which we will refer to in this note. Please be with Artan Press.
*** The effect of external factors on inflammation of the foreign exchange market
To better understand the changes and inflammations of the foreign exchange market, we go to the market and examine these inflammations in the language of marketers. According to market participants, the increase in the dirham price after the election fever and the news of the nuclear talks, along with the decrease in the supply of currency in Nima, has caused the currency circuit in the market to rise. Of these four factors, two are external and the other two are related to Iran’s economic problems.
These factors cannot be weighed precisely, but external factors appear to have had a greater impact on the appreciable growth of the dollar. The purchase rate of Nimai dollar remittances was announced in the report on the working day of July 26, with a growth of 4,423 Rials compared to Wednesday, 210,840 Rials, and the sales rate of these remittances increased by 4,512 Rials, to 212,840 Rials. شد
*** The need for a single dollar price
Unfortunately, the internal affairs of the economy must be as important and planned as we are about the impulses of the nuclear negotiations. In recent days’ notes, there has been talk of the need for a single dollar. If this becomes important, at least in the current situation, we will see the stabilization of the dollar exchange rate in the market. Many commodity markets need an economic stimulus to emerge from the severe recession of the last quarter.
Currency fluctuations will definitely hurt this issue. One of the famous exchange offices in Tehran had stated in a report that if the supply in the Nima system is not corrected, it could have irreparable consequences in the dollar exchange rate. The growth of the half-dollar remittance rate will further stimulate the dollar in the open market to grow and will likely challenge the new government. Rising prices for imported goods are sticking to high rates. This is very damaging to microeconomics and industry.
*** Nimai currency market without seller
A definite path for the foreign exchange market can not be imagined. According to foreign exchange market participants, supply and demand in the market are now in turmoil and suppliers prefer to sell their currencies at higher prices. This is likely to continue the upward trend in prices unless the currency supply process in Nima is accompanied by changes. The decrease in the supply of currency in the Nima system by exporters is while in previous weeks there was no purchase for Nima currency, but these days and with the uncertainty of the results of negotiations and … the situation is reversed and this time it is a buyer but there is no seller in the market.
*** Multi-rate damage to the dollar price
But it is not bad to examine one of the disadvantages of the multi-currency that has plagued the economy these days. We do not need to go far. The problem is in free and fair foreign exchange trading. A series of currency exchanges across the country have trapped the volatile atmosphere of the dollar. The important point that must be effective in reducing the supply of foreign exchange by exporters is the approach of the end of the deadline for the settlement of foreign exchange resulting from exports, exporters. For this reason, the number of buyers in the foreign exchange market has increased, because the high price of foreign exchange in the open market has caused this group to benefit more from the sale of banknotes in the market.
*** Increasing the price gap in the semi-open and free market
As the markets acknowledge, the increase in the price gap in the Nima and free markets has made exporters no longer willing to supply currency in this system and make the free market a priority for selling their dollars. Currency prices have entered an upward trend, which according to market participants, the limited supply of currency in the Nima system and the increase in demand for foreign exchange will continue this process in the coming days. The weighted average weekly buying and selling rate of dollar remittances up to yesterday reached 210,113 rials, an increase of 900 rials compared to Thursday’s report.
*** Global gold price growth
One of the factors that is considered as an international factor in the growth of the dollar is the world price of gold. Last week, estimates of global gold prices showed a rise in prices for the precious metal. Global gold prices rose yesterday as investors waited for the gold markets to grow even higher as the US inflation report was announced. The cash purchase price of an ounce of gold on the London Stock Exchange, Spot Gold, rose 0.14% yesterday to $ 1,777.59. The price of an ounce of US gold rose 0.05 percent to $ 1,777.50 an ounce. So far, gold prices have risen 0.6 percent in the past week. This price increase can greatly prepare the dollar for value growth. This will affect the remittance rate.
*** Political issues cause the dollar price to rise
Political issues have also played an important role in the rise of the dollar in recent days. It has recently been reported that the US foreign policy official has announced that there is a disagreement with Iran over serious issues in Borjam. Given the expiration of the government deadline for handing over the government, it seems that the negotiators of Hassan Rouhani’s team will have a difficult way to conclude these negotiations. Disappointing news from the Barjami talks has caused excitement in the foreign exchange market.
Yesterday, one of the important factors in the growth of the dollar price was the tensions caused by the output Nuclear talks. It is necessary to follow this event and in case of any change, examine its impact on the price of the dollar. Khatibzadeh recently stated that our position has not changed since the beginning of the Wynn talks.
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