Business And Markets

Rial Up, Forex and Gold Down

Rial Up, Forex and Gold Down
Rial Up, Forex and Gold Down

The national currency pared earlier losses at the beginning of trading day on Saturday as sentiment in the forex market weakened following new measures announced by the Central Bank of Iran including its currency injections to try and curb rates.    
Extending a weeklong declining trend, the US dollar lost 11,000 rials to reach 269,000 rials on Saturday -- down 4% compared to the earlier session. Gold prices also declined. 
One euro was worth 314,800 rials and the UK pound sterling fetched 348,900 rials in the unofficial market -- down 5% and 4.5%, respectively.  
The greenback at exchange shops affiliated to the CBI was worth 268,760 rials down 3.26% compared to Thursday. 


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