Foreign exchange rates in Tehran have moved upward since the beginning of the Iranian week on Saturday after posting successive declines.
Extending a three-day rising trend, the US dollar clawed back to the critical 270,000-rial level on Monday, closing at 272,600 rials. Gold prices were down.
The dollar was 1.1% higher than the earlier session and almost 3% higher on Saturday when it was tagged at 266,700 rials in Tehran’s free market.
Earlier this month the currency market took a drubbing following positive reports about ongoing talks to revive the Iran nuclear deal. Riding on the relatively optimistic psychological climate, the national currency gained close to 4% against the greenback.
Other major currencies also were higher on Monday. The euro was up 0.65% % to fetch 308,310 rials. The UK pound sterling was tagged at 369,150 rials, 0.86% higher on the session before. The UAE dirham gained more than 0.8% or 600 rials to buy 74,000 rials, according to Eghtesad News website.
A dollar was worth 253,890 rials on Monday at the official exchange bureaus affiliated to the Central Bank of Iran, indicating 0.6% rise. It rose slightly by 0.24% in the wholesale currency market known as the regulated forex market, to be tagged at 252,110 rials.
The market is a CBI-affiliated spot market operated by a network of banks and certified moneychangers dealing in wholesale currency.
The domestic bullion market was slightly lower on Monday as the popular Emami Gold coin registered small change and was worth 12.09 million rials, down 0.05%.
Half Bahar Azadi coin closed 0.8% lower to reach 67.8 million rials and one gram of 18-karat gold was sold for 12.08 million rials, 0.3% lower compared to the session before.
