Currency and gold prices jumped in Tehranon Tuesday amid renewed political sensitivities and sense of uncertainty in financial markets.
The US dollar rose 1.6% to finish the day at 249,000 rials. Bank-affiliated exchange shops quoted the greenback at 245,210 rials, 2,680 rials higher than previous day. These moneychangers act as an arm of the Central Bank of Iran for “controlling free market rates.”
In the CBI regulated market the US currency climbed 4,590 rials to reach 244,020 rials. The regulated market is a network of banks and certified moneychangers under CBI auspices and deals in wholesale currency.
The euro gained 1.5% or 4,560 rials during the day to finish at 302,700 rials. Bank-affiliated exchange shops sold the European currency at 298,430 rials, 2.7% higher than the previous day's close.
One Emirati dirham bought 68,800 rials to gain 1.01% in the free market. Gold coins too finished Tuesday higher. The Emami gold coin gained 2.66% or three million rials to close trade at 112.5 million rials.
Likewise, the half Bahar Azadi gold coin shot up 3.12% or two million rials and sold for 64 million rials. In global markets the yellow metal climbed to a one-week high on Tuesday, bolstered by a weaker dollar and a retreat in US Treasury yields, while concerns over rising inflation further boosted the bullion's appeal. Reuters reported.
Spot gold was up 0.1% at $1,810.71 per ounce, after hitting its highest since Feb. 16 at $1,815.63 earlier in the session. US gold futures gained 0.1% to $1,810.20.
