1 week Ago
A first step toward breaking the deadlock over Tehran’s nuclear program and easing tensions with the US spurred a rebound in Iran’s currency and stock markets. Iranian and US officials held their first formal talks in Oman on Saturday, seeking to lay the groundwork for negotiations that could place limits on Iran’s nuclear activities in exchange for sanctions relief. The rial rallied on Sunday after Iran’s foreign minister and lead negotiator, Abbas Araghchi, said the talks were “constructive.
” The currency, which has steadily declined since US President Donald Trump abandoned the 2015 nuclear deal and reimposed sanctions in 2018, was trading at around 890,000 to the dollar in the unregulated market, roughly 15% stronger than its historic low last week before news of the Iran-US talks emerged, according to local media and a Tehran-based trader. Tehran’s main stock index also climbed 1.9% as of midday local time, the Iranian economic daily Donya-e-Eqtesad reported, amid optimism over the next round of talks on April 19.
The gains demonstrate how Iran’s weary public is grasping for any sign of relief as Iran’s economy has struggled under the decades-long standoff with the US. On Saturday, Trump told reporters the talks were “going OK,” adding that “the Iran situation is going pretty good.” His special envoy to the Middle East, Steve Witkoff, who led the US team, called the talks “very positive and constructive,” according to NBC News.
Witkoff and Araghchi briefly spoke face-to-face after exchanging messages for over two hours via Oman’s foreign minister, who shuttled between the delegations in separate rooms, Iranian media reported. CNN cited a source saying the next round of talks may move to Europe, though Araghchi confirmed Oman would maintain its facilitating role. An Iranian lawmaker even suggested the two countries could take the talks to the next level.
“If they have something that’s worth hearing and discussing, Mr. Witkoff’s visit to Iran wouldn’t be a problem either,” said Abolfazl Zohrevand, a member of the Iranian parliament’s national security and foreign policy commission. ©2025 Bloomberg L.
P. This article was generated from an automated news agency feed without modifications to text..
