Business And Markets

USD Crosses 190,000 Rials

USD Crosses 190,000 Rials
USD Crosses 190,000 Rials

Major currencies continued to gain against the rial on Saturday with the dollar breaking past the critical 190,000 rials. 
The greenback was traded at 190,500 rials for the day, up more than 2,500 rials overnight, marking the highest ever rate in Iran. 
It gained more than 5% against the rial during the course of a week. Saturday’s hike put the currency gain against the rial at 18.3% in the first quarter of the current fiscal year that started on March 20. 
To reduce the widening gap with open market rates, Central Bank of Iran-affiliated moneychangers pushed up the forex prices. The dollar was worth 185,940 rials in bank-based money exchanges, 1.33% higher than Thursday, according to the Tehran Gold and Jewelry Union website. 


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