Currencies Defy Expectations, Move Higher

While currency market observers had expected a pause in the volatile currency market after a weeklong rally, forex rates continued to climb at the beginning of the trading week on Saturday.  
The dollar advanced to 286,300 rials in Tehran’s unofficial market up 1% or 3,000 rials on Thursday. The American currency has been rising steadily gaining nearly 3.5% against the rial in two weeks.  
The euro gained 0.6% or 2,160 rials to buy 286,490 rials while the UK pound sterling was up 0.86% and traded for 385,730 rials. The UAE dirham crossed 78,000 rials level and changed hands at 78,010 rials rising 0.8% daily, the Tehran Gold and Jewelry Union website said.