The dollar’s value in Iran’s unofficial market, which had peaked at 106,000 tomans, saw a sharp drop to approximately 85,000 tomans on Sunday following the first round of talks held in Muscat, Oman, on Saturday.
According to IRNA news agency, cryptocurrencies such as Tether also reflected similar downward trends, now trading at around 87,000 tomans.
Brokers in Tehran’s Ferdowsi Street and Istanbul Crossroads continue limited transactions amidst fears of further declines in currency values.
One broker reported that sellers primarily consist of individuals with small investments concerned about additional losses. Buyers, however, are mostly travelers or individuals transferring funds abroad.
Despite market uncertainty, activity persists for currencies including euros and Iraqi dinars.
Another broker noted reduced buyer presence, with most transactions driven by panic among sellers ahead of anticipated negotiations next Saturday.
Speculation remains high, with the prospect of further price drops if talks yield positive outcomes, or potential rebounds should negotiations falter.
