USD Drops in Tehran
EghtesadOnline: After the US dollar reached its three-month high in Tehran’s market last Tuesday, the greenback’s rally ended and it lost against rial for four days in a row, changing hands for 37,820 rials on Saturday.
According to Tehran Gold and Jewelry Union’s website, the rial was quoted at 37,930 to the dollar less than a week ago, showing the USD bull run in the currency market has ended.
However, euro, which is another high demand currency in Tehran’s market, gained 110 rials on Saturday. The rials was quoted at 43,990 to the euro, according to Financial Tribune.
However, the official rates of high demand currencies in Tehran’s market have all gone up. The rial was quoted at 32,624 and 37,367 to the greenback and euro, marking an increase of 15 and 76 rials compared with last week’s close, respectively.
Bahar Azadi gold coin changed hands for 11,770,000 rials ($313.8) in Tehran’s market on Saturday, down by 10,000 compared with last Thursday, but the other benchmark coin, Emami, gained 20,000 rials and sold for 12,085,000 rials ($322.2).
Half Azadi and Quarter Azadi gold coins lost 10,000 rials and 2,000 rials of their value on Saturday to reach 6,365,000 rials ($169.7) and 3,715,000 rials ($99), respectively.