After the Talks, the Rush to Buy Dollars

After the Talks, the Rush to Buy Dollars

Iran’s nuclear negotiations with the P5+1 countries were extended until June 30, 2015. To many Iranians, this meant that the chances of Israel or the United States taking military action were greatly reduced — at least until the summer of next year. Many Iranian investors rushed to buy foreign currencies, especially the US dollar. The dollar gained five percent in Iran’s black market the day after the talks ended for a temporary period. Negotiations will resume in early 2015.