Business And Markets

Forex and Gold Reverse Course

Forex and Gold  Reverse Course
Forex and Gold  Reverse Course

Bucking a declining trend that started on Saturday, foreign exchange rates reversed course on Wednesday gaining against the national currency. 
The dollar scaled back above 240,000 rials for day to close at 240.400 rials, gaining 1.2%. The American currency was quoted at 242,000 rials during the day in Tehran's free market.
Exchange rates have been relatively stable in the past few months and market participants have traded cautiously.
The greenback had declined to nearly a 3-month low on Tuesday posting losses for the second successive month. It lost 4% in the month to March 19 and 5.3% ending April 20.


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