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Rial Gaining Ground in Tehran Market

Rial Gaining Ground Rial Gaining Ground

Rial continued its gain against the US dollar in Tehran's foreign exchange market, as the Central Bank of Iran pushed through with its rescue package to stabilize the currency that had lost a quarter of its value within six months. 
The rial was trading at 44,790 to the dollar on Saturday, strengthening from 49,000 more than a week ago. The stability comes after CBI combined its package, which includes a significant deposit rate increase, with a police crackdown on unregulated currency traders. 

 

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