Foreign currencies stumbled on Monday for the second straight session in Tehran’s unofficial market after a two-week rally.
The dollar was down 1.25% or 3,500 rials for the day to settle at 282,000 rials after jumping to 287,000 rials -- a record in the present fiscal year that started in March.
Observers say the nervous currency market is apparently reacting to reports about the unfreezing of Iran’s forex assets in overseas banks. Unofficial reports in the local media say $3.5 billion of the assets has been freed.
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