Forex and gold prices continued to decline in Tehran market on Tuesday.
The dollar was sold at 271,200 rials during the day posting 1.37% or 3,700 rials decline compared to Monday's close. It was quoted 1.1% lower in bank-affiliated exchange shops -- at 260,490 rials, Eghtesadnews reported.
The euro lost 1.44% and was worth 313,530 rials. Melli Exchange and other bank affiliates sold the European single currency at 300,060 rials, down 1.13% compared to Monday.
Before the markets closed the Emirati dirham recorded 0.95% decline to buy 74,100 rials – down 1.21% on Monday from 75,700 rials to 74,800 rials.
The news outlet reported considerable decline in forex supply in the Central Bank of Iran regulated market. The website said $5.93 million was offered on Tuesday, down 28% compared to the day earlier.
The regulated market is a network of banks and certified moneychangers working under CBI supervision dealing in wholesale forex trade.
Regarding the decline in supply, analysts say the appointment of the new CBI head and positive reports about the resumption of Iran’s nuclear talks with world powers is impacting the currency market.
On Monday the Foreign Ministry spokesman said the coming days will see more diplomatic activity and interaction vis-à-vis the stalled negotiations on the revival of the 2015 nuclear deal.
“The Vienna talks will resume and the process is being followed up by the Foreign Ministry,” Saeed Khatibzadeh said.
The talks were put on hold in June, after the presidential elections in Iran which brought a conservative government to power. The new administration has said it is reviewing all that transpired in the past meetings to prepare for a restart.
Gold coin prices also declined on Tuesday. The Emami gold coin was traded at 116.8 million rials down 0.48% or 550,000 rials compared to Monday. Half Bahar Azadi gold coin also lost 0.84% to buy 59.7 million rials.
The Quarter Bahar Azadi gold coin posted the biggest drop --down 2.17% or 7.5 million rials to 34.7 million rials.
