Business And Markets

Dollar Gains 2 Percent

Dollar Gains 2 Percent
Dollar Gains 2 Percent

The dollar declined in the early hours of trade in Iran on Tuesday but later gained some ground against the rial. Trade commenced with the greenback as low as 210,000 rials in the first few hours but eked out during the day. 
It ended the day 2% or 5,000 rials higher than Monday at 220,000 rials in Tehran's open market. With the gains the currency bucked a declining trend that lasted for five consecutive sessions pulling down forex rates to five-month lows on Monday.
In line with the spike in dollar price, the UAE dirham was 1.8% higher and sold for 60,800 rials. However, other major currencies, namely the euro and pound sterling reversed course and closed lower compared to the day before. 


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