USD Summery Gain

The US dollar once again gained against rial in Tehran’s foreign exchange market to reach its highest value in the past six months late Sunday. According to Tehran Gold and Jewelry Union’s website, the greenback, which is the most widely traded currency in the Iranian market, was traded for 38,280 rials and 32,950 rials in the open and official markets respectively. Euro, the other high-demand currency, registered a 70-rial drop compared with Saturday’s close and changed hands for 45,380 rials. However, the European currency is experiencing calm and steady days after its unprecedented rally in July, which pushed its value to the highest level in the past three years.  The Central Bank of Iran fixed the official euro’s rate at 38,763 rials, down by 20 rials compared with its previous day’s close. Other high-demand currencies in Tehran’s market, namely Turkish lira and Emirati dirham, which traders significantly use in transactions with these countries, also witnessed a slight growth.  Lira and dirham changed hands for 11,120 rials and 10,450 rials, respectively.