Economy, Business And Markets

Rial Ticks Down

Rial Ticks DownRial Ticks Down

The rial slightly devalued today in Tehran’s currency market. The dollar continued its advance following the anticipation of a sooner than expected rise in US interest rates by the Federal Reserve. The Fed board members will start a two day policy-meeting on Tuesday. The dollar went up by 0.28 percent and hit 31,960 rials, a two month high. The euro which declined against the greenback, gained 0.31 percent versus the rial and stood at 41,560 rials by 15:24 London time. Sterling remained relatively unchanged, inching up to 51,980 rials per pound, as investors remained undecided on the fate of the currency, just days before the Scottish independence vote. The dirham advanced by 0.23 percent while the Turkish lira fell 0.27 percent.