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Euro Bull Run Continues

Euro Bull Run ContinuesEuro Bull Run Continues

Euro kept gaining against rial in Tehran’s forex market on Tuesday to continue its bull run that started about eight days ago.  According to Tehran Gold and Jewelry Union’s website, the European currency changed hands for 47,460 rials in Tehran’s market on Monday, marking an increase of 1.39% or 650 rials compared to Monday’s close. This is the highest value of euro in Iran’s market since June 11, 2013. On August 21, the euro was traded for 45,360 rials in Tehran’s market, which shows that it has gained more than 2,100 rials during the recent rally. This is while the US dollar, the most widely traded currency in the Iranian market, also gained against rial on Tuesday. The greenback changed hands for 38,630 rials, indicating a 50-rial growth compared to Monday’s close.

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