Forex Rally Continues Unabated

Foreign exchange rates extended gains against the national currency on Wednesday with the dollar getting closer to the critical 280,000-rial level. 
Currencies were traded moderately in the middle of the day before advancing sharply later. The dollar was traded around 278,000 rials on Wednesday morning but in late trade it was quoted at 279,700 rials in Tehran’s open market.
Similarly, the euro was almost unchanged and was tagged at  320,200 rials, the UK pound sterling gained more than 1.2% or 4,630 rials to buy 386,580 rials and the UAE dirham was traded at 76,190 rials, up 1.2% or 900 rials compared to Tuesday, according to data seen on Tehran Gold and Jewelry Union website.