Make Profit With Gap Strategy.

[Canada]

“There has been growing demand for dollars among ordinary Iranians, who fear a further plunge in the value of their assets and growing prices of goods, even those not imported from abroad”, Tasnim news agency affiliated with the Islamic Revolution Guards Corps (IRGC) reported on July 30, adding, “The purchasing power of Iranians has plummeted for the umpteenth time in recent months as wage increases have lagged far behind prices.”

[Canada]

The decision triggered widespread currency speculation on the black market, and accusations that individuals with political connections were abusing the system.
Rouhani sacked the governor of the Central Bank of Iran (CBI), Valiollah Seif, last week and replaced him with Abdolnasser Hemati, the former head of Central Insurance of Iran.
Furthermore, last Sunday, August 5, the judiciary spokesman said that CBI’s top foreign forex official, Ahmad Araqchi, along with several “unnamed” individuals, has been arrested.

[Canada]

Nevertheless, the value of rial collapsed again on Thursday and passed a six-figure mark against dollar.
Meanwhile, the value of Bahar-i Azadi (Freedom Spring) gold coin also shot up to 34,500,000 rials (roughly $705).
Iran's rial has lost more than half its value since April, in part over fears of renewed US sanctions, but also thanks to an ill-judged attempt to fix the value of the rial that month and make it illegal to trade at a higher rate.

[Canada]

The primary exchange mechanism is for the government to sell cheap dollars to approved importers of goods and companies who need material and machinery from abroad. This is basically a subsidy to make the essential parts of the economy function.
The new rules made dollars cheaper for a couple of days, which can also be attributed to the central bank possibly releasing dollars into the market.

[Canada]

Retreating from its earlier attempt to stop the downfall of rial, Rouhani’s government agreed this week to lift the restrictions it had imposed on forex trading in the private market.
The government says its new policy, based on what it has described as “Secondary Forex Market”, is to restrain the unbridled soaring value of the foreign currencies. It is basically reversing its previous ban on trading by the private sector.

[Canada]

Only days after the announcement of President Hassan Rouhani’s new forex policy, the value of Iranian national currency rial nosedived once again on the country’s open market.
While the dollar surpassed 10,000 rials, the private forex market is struggling with unexpected fluctuations, specifically over the value of the dollar, reports say.

[Canada]

The Fed provided few fresh signals when it kept interest rates unchanged last week, upgrading its assessment of economic growth and keeping another rate increase at the next meeting in September firmly on the table. Indeed, investors appear all but certain rates will be raised by 25bps in September, with the implied probability for such an action resting at 92.5% according to Fed funds futures. That said, they are less confident regarding moves after that, with another hike in December factored in with a 64% probability. This implies the dollar could still see some upside in case of strong data releases that enhance the prospect of a December action.

[Canada]

The US will release its Consumer Price Index (CPI) data for July on Friday, at 1230 GMT. Forecasts point to another mild, energy-driven acceleration in consumer prices. While such prints could prove positive for the dollar on the margin, for the currency to clearly resume its uptrend, it may require an upside surprise in inflation that stokes expectations for two more Fed hikes this year.

[Mustansir]

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[sarfraz786]

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