Iranian currency appreciates significantly

Golden Ten Data reported on March 21 that on Saturday, the Iranian currency rial surged sharply, reflecting market bets that the US exemption on Iranian oil sales would bring in foreign exchange inflows. After the US Treasury decided to temporarily lift restrictions on Iranian crude oil already in transit, the rial rose 6.7% against the US dollar to 1,559,000. Mostafa Parkzad, chairman of Parkzad Company, which provides Iranian geopolitical consulting for businesses, stated that since the outbreak of the war, the rial had been depreciating, and this was its first significant rise.