Business And Markets

Iran: Forex Dips Amid Low Demand

Forex Dips Amid Low DemandForex Dips Amid Low Demand

The foreign exchange rate in Tehran has been on a declining trajectory since the beginning of the Iranian week on Saturday, amid a noticeable decrease in demand for foreign currency. 
Each US dollar, which traded for 132,000 rials last Wednesday, fell below the supportive level of 130,000 rials on Sunday.
The greenback changed hands for 129,000 rials on Monday, as the bear market deepened. The euro was traded for 147,000 rials and the UK pound for 164,000 rials for the day. 
According to the Persian-language newspaper Donya-e- Eqtesad, investors are not interested in the forex market because of the increasing pessimism over a turnabout in the near future.  


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