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.