Iran: Currency Rates, Gold Retreat

Foreign exchange rates fell on Monday at Tehran’s currency market after two sessions of rally, as speculators increased offers to save gains.
The US dollar dropped 6,500 rials or 2.8% to fetch 237,500 rials in Tehran’s open market. Euro was quoted at 289,580 rials to lose 2.9% compared with the earlier session and the UK pound sterling was worth 339,280 rials, 7,800 rials or 2.3% higher compared with  a session earlier.  The UAE dirham dropped by 1.9% or 1,250 rials to retreat to 65,690 rials on Monday.
The greenback jumped from around 232,000 rials last Thursday to as high as 249,000 rials on Sunday following reports about the dismissal of Central Bank of Iran Governor Abdlolnasser Hemmati from office.