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Pressure Mounts on Rial

Pressure Mounts on RialPressure Mounts on Rial

Major currencies again gained against the rial on Monday with the dollar soaring above the critical 230,000 rials in Tehran’s free market. 
The greenback climbed 5,500 rials to 233,000 rials, 2.5% higher compared to Sunday’s close. One euro was worth 260,000 rials, up 2,500 rials overnight. 
Spike in currency rates is partly attributed to increase in demand for the UAE dirham as trade activity is getting back to normal after more countries lifted the pandemic restrictions.  

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