Business And Markets
0

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. 

Premium

Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Add new comment

Financialtribune.com