Dollar Rate Increased Following the Dissolution of the Iranian Exchange Association

The dollar rate increased following the dissolution of the Iranian Exchange Association

The dollar rate against the Iranian rial increased by about one thousand tomans, equivalent to two percent, on Tuesday, August 1, following the Central Bank’s decision to dissolve the Exchange Association, compared to Monday.

On Tuesday, the Central Bank of Iran ordered the dissolution of the Iranian Exchange Association, claiming it deviated from its objectives.

Continuing its claim, the Central Bank accused the Exchange Association of violations including defying the Central Bank’s orders, lack of cooperation with the bank, deviation from the association’s goals and activities, and other issues.

Simultaneously with this decision, the dollar rate reached 50,350 tomans by Tuesday evening.

The Tasnim News Agency attributed the increase in the exchange rate on this day to the games of the Exchange Association.

The Exchange Association also released a statement declaring that the Central Bank lacks legal justification for dissolving the association and does not have the right to cancel the annual general assembly.