Business And Markets

Forex, Gold Not Losing Clout

Forex, Gold Not Losing CloutForex, Gold Not Losing Clout

The US dollar made a strong comeback on Wednesday in Tehran’s open market after a steep decline a session earlier. Gold prices also followed suit. 
After a temporary hiatus on Tuesday, the greenback clawed back to above 280,000 rials and closed Wednesday trade at 288,000 rials to pare 3.5% of earlier losses. 
Following currency infusions in the market by the Central Bank of Iran, the dollar lost 12% to reach 278,000 rials in the open market on Tuesday. Other major currencies and gold also slipped. 


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