Currency Stable, Gold Slightly Higher

The greenback had lost 0.78% in Saturday’s trade. This is while it was traded at 254,100 rials at the regulated market down 0.25% compared to Saturday’s close. 

The regulated market is a network of banks and certified moneychangers working under CBI supervision and dealing in wholesale trade. 

Moneychangers in the free market quoted the euro at 311,680 rials -- unchanged compared with the previous day’s close. 

Bank-affiliated exchange shops priced the dollar and euro at 256,000 rials and 310,000 rials, respectively. The Emirati dirham lost 0.86% to trade at 70,500 rials. The British pound also was unchanged compared with the previous day’s close at 345,580 rials 

The Emami gold coin registered a meager increase of 0.8% on Sunday to reach 122 million rials. Half Bahar Azadi gold coin gained 0.8% or 500,000 rials to end the day at 62.5 million rials. Quarter Bahar Azadi gold coin, however, posted 1.17% growth climbing to 42 million rials. 

Experts say prices will decrease further in coming days, referring to optimism about a possible easing of US economic sanctions against Iran and a probable boost for the national currency in the run-up to US president-elect Joe Biden’s inauguration on January 20.