Iran's foreign exchange market continues to float rapidly

According to the latest updates, the dollar price is rising towards 61 thousand units in the exchange rate market today. The changing price per hour in recent weeks has affected people's psychology, causing them to focus on the foreign exchange market throughout the day. In parallel with the increase in the exchange rate in Iran, the price of iron continues to increase. Compared to last year, the profile and rebar respectively doubled at 93% and 55% rates. After the continuous rise in iron and steel prices, the market management committee was convened to control and regulate prices. The issues discussed in order to increase production and supply were, respectively, gas connection in the units in order to increase sponge iron production, the supply of sponge iron, billet and sheet products on the stock exchange towards the last days of May 2023, and increasing the purchase of sponge iron for the production of billets suitable for market supply.