Rial Up as Forex, Gold Lose Allure

Forex and gold prices plunged in Tehran in the past three days amid optimism about a stronger rial in the coming weeks. The dollar plunged to five-month lows on Saturday fetching 229,000 rials – down 4.5% in one day. The greenback posted 7.5% decline compared to Wednesday's close when it bought 245,000 rials. 
Other major currencies also posted big losses. The UAE dirham was quoted at 65,550 rials on Saturday down 2.6% compared to  a session earlier.   
The euro and the UK pound sterling declined 2% and 1.9%, respectively and were quoted at 283,130 rials and 318,450 rials, according to the Persian-language economic website eghtesadnews.