Following Israel’s attack, Iran’s security agencies halted currency exchanges in the market through various measures to prevent a sharp rise in exchange rates. Security officials have summoned and threatened the owners of major exchange offices.
Reports indicate that in another move, the operation of all currency pricing information websites has also been halted, and security agencies have generated news in government media to create a narrative of declining exchange rates.
According to currency traders in Tehran, they have been barred from any activity or transactions. Many traders have received phone threats from security agencies about detention and license revocation, resulting in a complete halt of currency transactions in the market.
Reports indicate that in recent days, the price of the U.S. dollar had surpassed 690,000 rials due to concerns over an Israeli attack, but after the attacks, security agencies acted to control the market by suspending transactions.
In the early hours of Saturday, October 26, Israel launched extensive attacks on military targets in Iran. According to the Israeli military, these attacks were a response to the Iranian regime’s missile strikes on Israel on October 1. They were carried out in multiple waves involving more than 100 fighter jets.
Meanwhile, state-run media attempted to downplay these attacks, emphasizing that oil and petrochemical facilities were not targeted.
The free-market dollar rate, which until last year had been stabilized through government supply pressure, has fluctuated in recent months due to war-related news. Consequently, any current exchange rate may be temporary under these volatile conditions.
The Tehran Stock Exchange has also seen consistent declines in recent weeks amid concerns about possible military strikes on Iran’s oil facilities. Although the main index saw a slight increase today, Iran’s capital market has not surpassed the two-million-point threshold and continues to be impacted by Iran’s structural economic issues. Notably, Iran’s inclusion in the FATF blacklist, along with North Korea and Myanmar, has recently been extended.
