Economy, Business And Markets

Greenback Gains, Pound at Six-Month Low

Greenback Gains, Pound at Six-Month LowGreenback Gains, Pound at Six-Month Low

The US dollar on Wednesday surged to a 3-month high against the rial and was sold for 35,380 rials in Tehran’s open market. The American currency gained 0.94% from the previous day’s close of 35,050 rials.

 The Central Bank of Iran fixed the rate of the official US dollar at 30,679 rials.  

The pound also hit its lowest in 6 months, and was sold for 48,670 rials in Tehran as the Brexit vote on Thursday sent the sterling tumbling against most major currencies.

Azadi gold coin sold for 10.081 million rials on Wednesday, a 0.93% increase, compared with the previous day’s close. The ‘Emami’ gold coin was up a 1.05% and sold for 10.843 million rials.

The half Azadi gold coin sold for 5.4 million rials, marking a 0.37% surge.

In the frenzied days since last week’s surprising decision by voters in the UK to approve a referendum paving the way for a departure from the EU, gold has largely avoided a major sell-off, as traders continue to seek refuge in safe-haven assets.