Upswing in US Dollar

The US dollar, the most widely traded currency in Tehran’s foreign exchange market, once again gained against rial in both the open and official markets on Monday afternoon. The rial was quoted at 40,090 and 34,209 to the dollar in the open and official markets respectively. According to Tehran Gold and Jewelry Union’s website, euro, another high-demand currency in Tehran’s market, registered a 70-rial drop compared with the previous day’s close. The rial was quoted at 48,030 to the euro. Other high-demand currencies in Tehran’s market, namely Turkish lira and Emirati dirham, which traders significantly use in transactions with these countries, also witnessed growth.  Lira and dirham changed hands for 11,300 rials and 11,160 rials, respectively.