Currency and Gold Slump in Tehran Market

Currencies took a drubbing in Tehran after rallying for seven consecutive days and the decline soon extended to gold prices.
The rial pared earlier losses on Monday as the dollar lost more than 8%, dropping 21,000 rials from 248,000 rials at the end of Sunday’s session to 227,000 rials on Monday. 
One euro bought 263,000 rials, down 21,000 rials, and the UAE dirham changed hands for 66,800 rials. 
Foreign currency was of the descending order late on Sunday and picked up pace Monday after the Governor of Central Bank of Iran Abdolnasser Hemmati tried to assure the anxious nation that “stability would return to the market”.