Expectations of relief from a possible temporary agreement with the US have stirred Iran's markets. On the second trading day of the week, the dollar fell, gold prices dropped, and the Tehran Stock Exchange reached a new record level.
In Tehran's open market, the dollar traded below 1.68 million rials around midday. This level signaled a limited recovery for the rial from its historic low of 1.9 million rials last month, though the currency remains under the pressure of years of inflation.
Gold prices also declined. The price of the Emami gold coin fell to about 1.71 billion rials, a drop of roughly 5 percent from its opening on Saturday morning.
The Tehran Stock Exchange continued its rise after reopening in a controlled manner three weeks ago, following a three-month closure. The main index gained 123,000 points by Sunday's close, reaching an all-time high of about 4.82 million points.
A young Iranian living in the city center said short-term exchange rate movements are not enough to ease the pressure on daily life. He explained that he and his family have been trying to buy dollars and euros whenever they get the chance in recent months.
The young person stated that the prices of food and other basic goods, which have multiplied several times over in a short period, will not become cheaper even if the dollar falls slightly. In his view, even if a deal is signed, the long-term problems will not disappear.
Meanwhile, Tehran says a temporary agreement is closer than ever before. Mediators from Qatar also arrived in the Iranian capital on Sunday and worked to advance the talks.
However, the sense of proximity to a deal has also strengthened fierce internal objections. Opponents of the agreement want the Iranian side to make as few concessions as possible.
The Fars news site, which is linked to the Revolutionary Guards, wrote that Iranian officials might not sign the agreement on Sunday because it was Trump's birthday. Mohammad Mannan Raisi, an anti-deal lawmaker from Qom, also used harsh language while addressing supporters gathered in the streets of the holy Shia city.
In Iran's religious and political centers, especially in Tehran, Qom, and Mashhad, circles opposing the agreement showed their reaction through speeches, banners, and slogans. Some slogans directly targeted Parliament Speaker Mohammad Bagher Ghalibaf and Foreign Minister Abbas Araghchi, who are tasked with conducting the talks.
Tehran-based ultra-conservative figure Mahmoud Nabavian emerged as one of the loudest voices opposing the agreement. Appearing on state television, he displayed a text he claimed was the final draft of the temporary understanding and argued it must not be signed.
Mahmoud Nabavian asserted that such a text would nullify the political and military gains thought to have been won throughout the war. Anti-deal circles have also reignited the debate over the structure of Iran's decision-making mechanism.
Decisions in Iran are shaped with the approval of the senior leadership structure. Within this structure, Mojtaba Khamenei and the Supreme National Security Council, composed of military and government officials, play a decisive role.
In nighttime gatherings and online posts, some hardline supporters said they would oppose the current agreement even if it receives final approval. In contrast, Hassan Khomeini called on pro-state circles to trust the senior leadership.
Khomeini said everyone can express their advisory views, but once a final decision is made, it must be followed. The state newspaper Haft-e Sobh, meanwhile, republished an old interview clip on Sunday featuring former Chief of General Staff Mohammad Bagheri.
The broadcast was read as aiming to emphasize the message that compromise might be necessary to protect the country. In the footage, Bagheri explained that at the end of the Iran-Iraq War in the 1980s, the country was forced into a compromise based on a United Nations resolution against an enemy with stronger foreign support.
Ali Bagheri Kani also said in a statement on state television that the hardline government under Ebrahim Raisi had come very close to reaching an agreement with Washington. According to him, the process of reviving the nuclear deal signed with world powers in 2015 was delayed by the Mahsa Amini protests in September 2022.
Bagheri Kani added that Hamas's attacks on southern Israel on October 7, 2023, also created a major shock across the region. These developments made the search for a compromise between Tehran and Washington difficult once again.
At the current juncture, Israel is once again emerging as a clear opposing party at a time when a deal is near. On Sunday afternoon, Prime Minister Benjamin Netanyahu ordered strikes on Beirut's southern suburbs.
Earlier this month, Iran had responded to Israel's attacks on the area known as Dahiyeh with direct missile fire, describing it as a new "strategic doctrine."
