Economy, Business And Markets

Pound Dips as Gold Remains Strong

Pound Dips as Gold Remains StrongPound Dips as Gold Remains Strong

The pound hit a six-months-low in Tehran’s open market on Sunday. The British currency sold for 47,430 rials, down by 1.56% compared with yesterday’s close of 48,170. The Central Bank of Iran fixed the official rate of the sterling at 40,770 rials on Sunday, down 4490 rials since the Brexit vote late last month. The pound sold for 51,430 in the free market before the historic EU referendum. The US dollar also lost ground and was traded at 34,995 rials in the parallel market. The subsidized dollar is offered at 30,750 rials. Bahar Azadi gold coin was sold at 11 million rials, slightly lower than the previous day’s close.  Emami gold coin was traded at 10.98 million rials, down 0.36% compared with Saturday’s close. The half Azadi coin was sold at 5.5 million rials.