Iran Currency Market: Rial Gains Against All Odds

Currency rates in Tehran briefly hit six-month lows since January 9 as the US dollar was traded for 111,000 rials during the mid-day trade in the open forex market on Wednesday. 
Varying rates were quoted for the greenback during the later hours of trading day before it finally stood at 118,500 rials, 500 rials higher than Tuesday’s close. It fetched 120,000 rials on Thursday.
The euro was worth 136,000 rials, up 1,000 rials compared to Wednesday’s trade and the UK pound sterling was quoted at 152,000 rials.