The Iranian rial has weakened further, trading at 1.77 million to the dollar, according to financial data tracked by Abu Ali Express. The currency has lost about 4% in the past few days since trading around 1.7 million to the dollar, and has fallen roughly 16% since the US-Iran memorandum of understanding was signed, when it stood at 1.52 million.
The Iranian rial has continued its sharp depreciation, crossing 1.77 million to the dollar in Thursday trading — a new low since the US-Iran memorandum of understanding was signed on June 15, according to financial data tracked by Abu Ali Express.
The currency is now down roughly 16% from the trading level around 1.52 million rials to the dollar at the time of the signing, which was meant to signal a thaw in US-Iran economic relations and included the reopening of the Strait of Hormuz. The decline has accelerated in recent days: after trading around 1.7 million to the dollar earlier this week, the rial shed another ~4% in value within a few days.
The weakening comes despite the resumption of Iranian oil exports after the lifting of the US blockade — a factor that, together with the MOU, had been expected to stabilize the currency. Instead, inflation appears to be accelerating, and the rial’s slide is now accumulating rapidly even as oil revenues rise. As The Zioneer reported on Sunday (June 28), the rial had already lost about 13% of its value in under two weeks; the latest fall extends that decline further.
No official Iranian central bank statement or intervention has been reported. The trajectory suggests investor and public confidence in the currency remains low despite the diplomatic opening.
Source and signal
- Internal intake