The dollar’s rate of exchange against the rial fell below 30,000 rials on Saturday November 9.

The Mehr News Agency reports that foreign currency traders sold the dollar at 29,950 rials today on the open market, and similar declines in other currencies’ exchange rates were also reported.

The report indicates that the rise in the value of the national currency appears to be a result of optimism about the direction of nuclear talks in Geneva.

Iran’s national currency has fallen in value significantly in recent years as a result of international sanctions and pessimism about the country’s economic situation.