Rial Weakens and Gold Struggles

The ascending order of forex rates in Tehran continued on Tuesday with the dollar moving above 260,000 rials in the open market.
The greenback climbed more than 1.7% or 4,400 rials and was quoted at 261,900 rials  -- the highest since the beginning of the current fiscal year in March.
Observers say if the American currency stays above the 260,000- rial level it could advance to the all-time high of 320,000 rials logged in October 2020.
Likewise, the euro gained 1% or 3, 070 rials to change hands at 306,190 rials and the UK pound sterling was up 1.07% or 3,900 rials to reach 361,690 rials.  The UAE dirham was quoted at 71,050 rials, up 0.2% or 150 rials compared to Monday.