Economy, Business And Markets

USD Hits Eight-Month High

USD Hits Eight-Month HighUSD Hits Eight-Month High

The US dollar gained against the rial on Thursday to reach its highest value in Tehran’s foreign exchange market in eight months.

According to Tehran Gold and Jewelry Union’s website, the rial was quoted at 39,480 to the dollar in the open forex market on Thursday’s close, marking an increase of 110 rials compared to Wednesday. This is while USD’s official rate also went up by 60 rials to reach 34,002 rials.

Euro, another high demand currency in Tehran’s market, gained 330 rials in two days. The rial was quoted at 47,150 to the euro on Thursday. The official rate of the European currency also gained 50 rials on Thursday and stood at 39,980 rials.

Bahar Azadi gold coin changed hands for 12,130,000 rials ($307) in Tehran’s market on Thursday, up by 10,000 compared with Wednesday’s close, but the other benchmark coin, Emami, lost 10,000 rials and sold for 12,530,000 rials ($317.2).       


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