Business And Markets

Dollar and Euro Advance

Dollar and Euro Advance
Dollar and Euro Advance

The dollar bucked the declining trend on Wednesday after falling below the psychological support level of 270,000 rials a session before.
Trade under the support level was short-lived as rates spiked in Tehran’s open market and the greenback surged to 271,700 rials, up 0.2% or 500 rials compared to Tuesday
The American currency lost more than 4% of its value in the past two weeks, dropping from 282,000 rials in late September to near 270,000 rials early in the week.
The pattern was driven mainly by declining expectations on the heels of the appointment of a new governor at the Central Bank of Iran.  Ali Salehabadi took the helm replacing Akbar Komijani.


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