According to the Shahr-e-Bourse, the Central Bank of Iran has signaled a strong intervention in the foreign exchange market. Mohammad Reza Farzin, the Governor of the Central Bank, revealed that a comprehensive agreement has been reached with major petrochemical and steel holding companies. Under this deal, a significant volume of export earnings will be injected into the market beginning Saturday to curb recent price spikes.

Farzin emphasized that the target rate in the agreed market remains largely below 100,000 Tomans. He acknowledged that recent days saw emotional fluctuations pushing prices up by about 2,000 Tomans, but expressed confidence that the new supply wave would reverse this trend.

The strategy involves a continuous and uninterrupted supply of hard currency, including Dollars, Tethers, and Dirhams, through the Center for Exchange. By coordinating with the country’s largest exporters, the Central Bank aims to eliminate the supply-demand gap that has recently fueled volatility. Market analysts are now waiting to see if this “heavy injection” can successfully pull the Dollar back from its recent highs.