Foreign currencies' prices increased on Thursday and Friday in Tehran's open market.
According to Eghtesadnews website, each US dollar was sold at 295,000 rials on Thursday, up 2.03% or 6,000 rials on Wednesday's close. The greenback was priced 298,700 rials on Friday, up 0.57%.
In the official market, operated by the CBI-affiliated exchange bureaus, the dollar was 276,370 rials on Thursday, up 1.27% on the session before.
It was traded at 277,020 rials in the regulated currency market, up 1.01% from the previous session’s close, according to the Iran Currency Exchange website. The market is a CBI-affiliated spot market operated by a network of banks and certified moneychangers dealing in wholesale currency.
The euro jumped 2.61% on Thursday to buy 294,490 rials. The European currency gained 0.4% on Friday and was quoted at 298,700 rials in the open market. The Emirati dirham posted much higher growth of 3.28% on Thursday, being sold at 82,300 rials.
According to market observers, the growth in rates on Thursday was mostly under the impact of news updates about the US administration's response to EU's proposal for reviving the long-delayed Iran nuclear deal.
Forex rates started a downward trend last week after positive reports about the likelihood of success in the complex negotiations to revive the 2015 nuclear agreement, known officially as the Joint Comprehensive Plan of Action or JCPOA.
Iran has received Washington's response to an EU-drafted final offer for salvaging the nuclear deal with major powers, the Foreign Ministry in Tehran said on Wednesday. However, unconfirmed reports about rejection of some parts of the proposal has had a negative impact on currency rates in Tehran.
Gold prices also shot up in Tehran on Thursday. The Emami gold coin was quoted at 139.71 million rials, up 2.65% on the previous session.
Half Bahar Azadi coin rose 1.89% on Thursday to buy 79 million rials. The Quarter Bahar Azadi coin gained 3.06% to finish Thursday trade at 49 million rials. One gram of 18-karat gold changed hands at 12.88 million rials.
In international markets, however, gold prices slid on Friday as US Treasury yields moved slightly higher, Reuters reported. Spot gold fell 0.6% to $1,748.69 per ounce. US gold futures dropped 0.8% to $1,758.10.
