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2025-10-31 17:14:02
[USD/IRR Approaching Historical High, Policy Unchanged Could Push Towards 92.42] ⑴ The USD/IRR is approaching its historical high. Technical analysis suggests a target of 89.11 based on the March 2024 base period, using the February high and May low. ⑵ Despite intervention measures to slow the rate's rise, the overall intervention has been limited and has failed to reverse the upward trend. ⑶ India's foreign exchange reserves continue to grow and are near record levels, providing a liquidity buffer for the market. ⑷ The Reserve Bank of India's underlying foreign exchange policy generally favors a stronger USD/IRR. ⑸ If current policy remains unchanged, after breaking through 89.11, the next internally driven upside target is 92.42. ⑹ In the global context, when the market lacks clear safe-haven assets, investors tend to buy the US dollar, further enhancing the attractiveness of dollar assets.
