Economy, Business And Markets

USD Edges Up

USD Edges UpUSD Edges Up

The US dollar was exchanged for 39,450 rials in Tehran’s market on Sunday, slightly up from the previous day’s close, according to the Association of Bureaux de Change Operators of Iran. Moneychangers, however, sold the American currency for 39,600 rials. The union’s website shows the greenback reached 39,550 rials at its highest on Thursday, as the market was closed on Friday and Saturday. The currency was expected to continue its rally, following US Federal Reserve’s Wednesday move to raise its benchmark interest rates. The Central Bank of Iran set the official US dollar rate at 32,389 rials on Sunday, up by 0.11%. Euro was sold for 42,650 rials, down by 50 rials compared with the previous trading day’s close. The British pound was sold for 49,200 rials, down by 100 rials compared with the previous day’s 49,300 rials.


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