Currency and Gold Drop in Tehran Market

Forex rates in the unofficial market dropped on Wednesday dragging down prices in the domestic bullion market. 
The US dollar was quoted at 311,140 rials, down 5,500 rials or 1.9% in Tehran’s free market. The euro was down more than 1.8% to settle at 318,870 rials while the UAE dirham bought 86,100 rials – down 1.05% on Tuesday, Eqtesad News website reported.  
While the currency market has been relatively stable for weeks, observers link the fresh decline to cautious optimism about the reviving Iran’s nuclear deal, known as Joint Comprehensive Plan of Action, or the JCPOA.