Upbeat Head of CBI Impacts Forex Market

Foreign exchange rates dropped Monday in Tehran after the central bank governor on state TV forecast much lower currency prices that triggered panic selling. 
After rallying for three consecutive sessions the dollar lost 1.5% in the free market to fetch 241,000 rials. The euro was close by losing 1.4% or 4,000 rials to reach 292,810 rials, and the UK pound sterling was worth 332,221 rials down about 1% compared with a previous session. The UAE dirham was quoted at 66,800 rials – 1.4% lower than Sunday.