12:38 - 12.07.2023

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July 12, Fineko/abc.az. The recent decrease in tensions between Iran and Azerbaijan and the positive statement of the Azerbaijani Foreign Minister have led to a decrease in prices for foreign currency, gold coins and stocks on the Iranian market, ABC.AZ reports with reference to Iranian website Ecoİran.

Azerbaijani Foreign Minister Jeyhun Bayramov stated on July 9 that we see Iran's intention to take serious steps towards resolving differences. In this case, Azerbaijan will take adequate, mutual steps.

This statement can be regarded as aimed at curbing and reducing the growth of prices for foreign currency in the foreign exchange market of Iran with economic growth and foreign income with positive impact on the Iranian market.

So, if on July 9, 1 dollar was about 500,000 rials on the black market, today (July 12) 1 dollar is 493,000 rials. On July 9, 1 gold coin was 285 million rials (about $6,785 dollars) on the Iranian market, yesterday (July 11) 1 gold coin was worth 278 million rials (about $6,619). At that, the Iranian stock market is experiencing a decline in stock prices.

Azerbaijan is Iran's northwest neighbor. Russia, on the other hand, is the largest foreign investor in Iran and intends to export products from Iran to India by rail. Russian experts predict that the trade turnover of Iran and Russia may exceed $30 bn. Part of the Russian investment in Iran is connected with the construction of a railway line that connects Azerbaijan with the South of Iran and can facilitate the export of Russian products to India. Under such circumstances, growth of disagreements between Iran and Azerbaijan could also become an obstacle to the trade program of Russia and Iran on trade with India.