Iran’s rial recouped some of its losses after hitting a record low against the US dollar on Thursday on the open market, according to reports, as the economy continues to face pressure from the reimposition of US sanctions.
The dollar was being offered at 140,000 rials on Wednesday and had hit the record low of 150,000 rials earlier in the week– a figure considered by many to be a "super-resistance level".
However, on Thursday, the Iranian currency pared some of its losses and was quoted at about 138,000 to the dollar. Rial's gain continued on Friday, a day on which official markets are closed, with the dollar being traded at around 133,000 rials.
September 07, 2018 19:26
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Rial Pares Losses on Central Bank Moves
The dollar was being offered at 140,000 rials on Wednesday and had hit the record low of 150,000 rials earlier in the week– a figure considered by many to be a “super-resistance level”
The reason for the correction in prices was traced to a series of positive measures by the Central Bank of Iran
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