Business And Markets

Slight Surge in Forex, Gold Prices

Slight Surge in Forex, Gold Prices
Slight Surge in Forex, Gold Prices

Foreign exchange rates rose again on Tuesday with the dollar surging above the critical 250,000 rials level.  
The greenback fetched 250,500 rials gaining 1,700 rials or 0.7%.   The euro gained more than 2,000 rials to reach 299,290 rials, up 0.67% while the UK pound sterling was worth 349,770 rials posting 0.7% growth compared to the earlier session. The UAE dirham was quoted at 69,150 rials up 0.36%.
The dollar logged the biggest gain in licensed exchange shops affiliated to the Central Bank of Iran climbing 1.3% to reach 247,170 rials.   
In the regulated forex market, the domestic wholesale currency market, the American currency was 0.3% higher at 242,680 rials, according to the Persian-language economic website eghtesadnews. 
The regulated market is a network of banks and certified moneychangers working under CBI supervision who deal in wholesale forex trade.
Influenced by forex trends, prices in the domestic gold market also hiked on Tuesday. The Emami gold coin surged to 108.5 million rials, up 1 million rials or 0.92% compared to Monday. 
Half Bahar Azadi gold coin remained unchanged and was worth 64.5 million rials. One gram of 18-karat gold was worth 10.7 million rials up 0.9%, the Tehran Gold and Jewelry Union website reported.

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