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Tehran Market: Forex and Gold Fall Together

Tehran Market: Forex and Gold Fall Together Tehran Market: Forex and Gold Fall Together

The US dollar dropped by 21,000 rials on Sunday, losing close to 9% against the rial. The decline soon extended to bullion market, causing gold prices to fall about 10%. 
The greenback was traded at 215,000 rials at Tehran’s free market on Sunday, down from 236,000 rials quoted by moneychangers a session earlier on Thursday. The euro fetched 253,100 rials, down from 280,000 rials a session earlier. 
The falling forex rates are possibly due to “declining expectations” in the market following statements by the Governor of the Central Bank of Iran Abdolnasser Hemmati on Friday evening. 

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