Business And Markets

Forex, Gold Back in Vogue 

Gold prices jumped on the footstep of the currency market despite the decline in the international bullion markets. The Emami gold coin shot up more than 7.2% or 11.38 million rials to 156.46 million rials
Forex, Gold Back in Vogue 
Forex, Gold Back in Vogue 

After days on the pause button, forex rates jumped again Thursday along with gold prices in Tehran. 
The American currency made a big leap in the unofficial market touching 320,500 rials to post 2.7% or 8,500 rials rise on the session before. It was 4.5% higher from Monday’s rate. 
Forex trade has seen more than its share of drift in recent weeks. Rates retreated from historic highs in the beginning of June thanks to the heavy intervention by the Central Bank of Iran, and later guarded hopes about the success of fresh talks to revive Iran’s nuclear deal. 
Trying to tame volatility, the central bank said it was increasing forex supply by allowing exporters to sell their overseas proceeds at higher rates. 


Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Add new comment