Free-market US Dollar Records Largest Daily Loss in 30 Days
The Free-market US Dollar (USD/IRR) experienced its most significant daily percentage decline in 30 days on September 13, falling by 2.27%. This move marks a...
The Free-market US Dollar (USD/IRR) experienced its most significant daily percentage decline in 30 days on September 13, falling by 2.27%. This move marks a notable shift in recent price action, surpassing the previous largest daily loss recorded within the same period.
Interactive price chart
Event Details
On September 13, the USD/IRR closed at 2,286,000 IRR, down from its open of 2,338,000 IRR. The 2.27% daily loss exceeded the prior 30-day record decline of 1.85%. The session saw an intraday range of 2.29%, with the rate moving from a high of 2,338,000 IRR to a low of 2,285,600 IRR.
Technical Context
The decline occurred while the Free-market US Dollar was in a strong bullish trend, with its 14-day Average Directional Index (ADX) at 56.63. However, the Aroon Oscillator registered a sharp drop to -87.5, indicating a significant shift in momentum. The asset also registered its second consecutive day of losses.
Historical Context
This 2.27% drop represents a notable retreat from recent price action, as the USD/IRR had been trading within 3.55% of its 52-week high. The previous day, September 12, also saw a decline, making this the second consecutive daily loss for the currency pair.
Conclusion
The Free-market US Dollar's 2.27% daily loss on September 13 resets the recent extreme for daily declines, marking the largest such move in a month. This session interrupts a period of sustained upward movement, establishing a new benchmark for short-term downside volatility.
Live rates
Track the latest Free-market US Dollar (USD/IRR) session on Iran Market Data.