According to the report of the Gold and Currency Service of Economy Online, the foreign exchange market welcomes transactions on Sunday, June 24, 1405, while the eyes of traders are focused more than ever on political news and the fate of negotiations. Currently, the price of the dollar is in the range of 172,010 Tomans, and many market participants consider this range as one of the critical points for determining the short-term path of the price.
The latest price of best-selling currencies
- Dollar: 172,010 Tomans
- Euro: 198,960 Tomans
- Emirates Dirham: 46,827 Tomans
- British pound: 230,620 tomans
- Turkish lira: 3,720 tomans
- Canadian Dollar: 123,000 Tomans
New political signal to the currency market
Meanwhile, the publication of Donald Trump’s new message on the “Truth Social” social network has attracted the attention of the markets. The President of the United States has announced that an agreement is being formed, the aim of which is to completely prevent Iran from obtaining nuclear weapons. He also said that this agreement is going to be signed tomorrow and after that the Strait of Hormuz will be open to all countries.
At the same time, the spokesperson of the Ministry of Foreign Affairs of Pakistan has also announced that Islamabad will host the electronic signing ceremony of the memorandum of understanding between Iran and the United States. News that, if realized, can affect the political and economic atmosphere of the region.
Important ranges of the dollar in the short term
Economic experts believe that the range of 170 to 173 thousand tomans is currently the most important short-term support level for the dollar. According to analysts, if the positive signals from the negotiation process are strengthened and the official news of the progress of the agreement is published, there is a possibility of increasing the supply in the currency market; Conditions that can bring the dollar to the range of 168 to 170 thousand tomans first, and even in case of intensification of optimism, pave the way to the channel of 160 thousand tomans.
A bullish scenario in case of ambiguity in the negotiations
On the other hand, some market participants warn that if the negotiation process is faced with uncertainty or a new obstacle, a part of the precautionary demand may return to the market. In such a scenario, the dollar can once again move towards the range of 175-178 thousand Tomans.
A critical week for the currency market
However, many analysts believe that the coming week could be one of the most decisive periods of the currency market in recent months; Because now more than ever, traders are waiting for the outcome of the negotiations to become clearer and its impact on the future of the economy and the currency market.
