Business And Markets

Currency, Gold Markets Rally

Currency, Gold Markets Rally
Currency, Gold Markets Rally

After a one-day hiatus, foreign exchange rates soared on Wednesday at Tehran’s free market, which also pushed up prices in the bullion market.  
The US dollar advanced to as high as 317,000 rials, up from 311,000 rials in the previous session to post 1.8% gain in the day. The greenback has gained more than 5% against the national currency over the past week. 
Observers ascribe the uptrend to rising inflation expectations among the public, which have intensified demand in currency and bullion markets, as people seek safe havens to protect their savings against the continuing devaluation of the national currency.


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