Foreign exchange rates were choppy Monday rising slightly in the early hours of trade before making a sharp retreat.
The US dollar closed at 241,500 rials in Tehran's free market down 1.4% compared to the previous session. After posting a 1.3% decline a day earlier, the greenback was quoted higher early on Monday, trading as high as 246,000 rials.
Other major currencies dropped on Monday. The euro was down 1% to fetch 290,000 rials and the UK pound sterling declined 0.93% to buy 341,840 rials. The biggest daily decline was in the UAE dirham. It sold for 64,400 rials 1.8% lower compared to Sunday.
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