The US dollar's rally in the unofficial foreign exchange market, along with other major currencies, is gaining in intensity.
Iranian currency hit a record low on Sunday at 100,000 rials to the dollar one day after Abdolanasser Hemmati formally took over as the new Central Bank of Iran governor.
The gold coin also accelerated its bull run with the benchmark Bahar Azadi being trade at 40.26 million rials ($915 at the official exchange rate) in midday trade after approaching the 45-million-rial mark in early trade. In late trade, the dollar's exchange rate had reportedly reached 120,000 in the unofficial market in Tehran.
July 29, 2018 20:07
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Intense Rally Reported in Tehran's Forex and Gold Markets
The gold coin also accelerated its rally with the benchmark Bahar Azadi being trade at 40.26 million rials ($915 at the official exchange rate) in midday trade after approaching the 45-million-rial mark in early trade
Hemmati said his priorities include protecting the central bank’s reserves, curbing inflation, addressing problems besetting banks’ balance sheets and stopping the unbridled surge in liquidity
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