Major currencies rallied sharply in the early hours on Tuesday in Tehran but pared some of the gains in the middle of the day.
The dollar crossed above 278,500 rials in the open market before retreating to 277,300 rials, closing 1% or 2,700 rials higher compared to Monday.
Likewise the euro gained 1.5% or 4,670 rials to buy 325,600 rials and the UK pound sterling closed 1.6% or 6,100 rials higher at 380,840 rials. The UAE dirham paused shedding more than 0.3% to finish at 75,150 rials.
Official exchange shops affiliated to the Central Bank of Iran tagged a greenback at 266,900 rials, up 1.34% or 3,600 rials.
Rates were also higher in the regulated market where currencies are traded wholesale. The dollar was quoted at 266,320 rials up more than 0.8% daily.
The regulated forex market is a network of banks and certified moneychangers working under CBI supervision dealing in wholesale forex trade.
Despite the ascending order in the currency market for several days, the domestic bullion market was mixed. The popular Emami gold coin remained unchanged and was worth 121.3 million rials.
However, the half Bahar Azadi jumped close to 2.4% to reach 63 million rials and one gram of 18-karat gold was worth 10.7 million rials, down 0.22%, according to Tehran Gold and Jewelry Union website.
In the global market, gold held steady on Tuesday above the $1,800 per ounce level, helped by speculation that a spike in coronavirus cases may prompt the US Federal Reserve to defer its tapering of monetary stimulus, Reuters reported.
Spot gold was little changed at $1,804.30 per ounce by 1056 GMT, after hitting a near three-week high in the previous session. US gold futures were steady at $1,806.90.
