Rial Showing Signs of Resilience

The national currency pared more past losses on Monday. The US dollar traded almost 10,000 rials lower at 305,000 rials in Tehran’s unofficial market to post more than 3% decline to the day. 
The euro plunged more than 2.8% or 8,000 rials to buy 322,000 rials, the GBP was tagged at 373,500 rials, down 3% and the UAE dirham gave up 2.6% to end at 83,000 rials. 
Forex rates have paused over the past few days after hitting historic highs from the beginning of June. The CBI says it has intervened in the chaotic market to restore some calm.