Business And Markets

Rial Makes Modest Gains 

Rial Makes Modest Gains 
Rial Makes Modest Gains 

The rail pared more past losses on Monday and strengthened against major foreign currencies in Tehran’s unofficial market. 
A dollar traded at 314,500 rials in the middle of the day, shedding 1.5% or 5,000 rials in one day and the euro changed hands at 327,800 rials to post 1.3% loss. The GBP was worth 384,400 rials, down 1.4% and the UAE dirham was down  1.1% to buy 86,550 rials. 
In the regulated market, where currencies are traded wholesale, the greenback sold for 276,380 rials -- a subtle  0.1% rise on Sunday. This market is a CBI-affiliated spot market operated by a network of banks and certified moneychangers dealing in wholesale currency. 


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