Business And Markets

Dollar, Gold Surge 3.5%

Dollar, Gold Surge 3.5%
Dollar, Gold Surge 3.5%

Extending a rally from the previous session, foreign exchange rates in Iran regained momentum on Wednesday.
The dollar climbed more than 3.5% in Tehran's open market to close at 228,000 rials. It was quoted as high as 231,000 rials early in the day but declined in the closing hours.
It was quoted at 227,490 rials at official exchange shops affiliated to the Central Bank of Iran – up 9,560 rials or 4.4%.
The UAE dirham gained 3,000 rials or 4.7% to fetch 63,800 rials. The euro and UK pound sterling climbed 2% changing 269,500 rials and 303,340 rials, respectively.
However, the market was rather indifferent to the CBI governor's optimistic statements about further cuts in forex rates. Speaking on state TV late Tuesday, Abdolnaser Hemmati said "real currency prices are lower than the current rates". 


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