EghtesadOnline: The foreign exchange market in Iran is experiencing unprecedented highs as major currencies continue to rise against the national currency.
EghtesadOnline: New exchange rates should be used by banks as the basis for converting their forex debt and assets into rial, the Central Bank of Iran said Thursday.
EghtesadOnline: Major currencies moved further from record highs reached last week and declined Sunday both in Tehran’s free market and official exchange-bureaus affiliated to the Central Bank of Iran.
EghtesadOnline: The US dollar rose again in Tehran’s free market at the close of trading week on Thursday, moving incessantly toward 300,000 rials.
EghtesadOnline: After a brief lull, currency rates again rallied against the rial on Sunday. The dollar was quoted at 273,000 rials in Tehran’s open market, up 7,000 rials, or 2%.
EghtesadOnline: The rising tide of foreign currency rates against the rial paused on Saturday after soaring to record highs last week. The slide extended to the bullion market.
EghtesadOnline: The national currency declined to new lows in the face of a rising dollar on Monday but later recovered partially following intervention by exchange bureaus affiliated to the Central Bank of Iran.
EghtesadOnline: Major currencies resumed their climb versus the rial from Monday with the dollar rising more than 10,000 rials in Tehran’s open market compared to prices quoted Thursday.
EghtesadOnline: The rial pares some more of its losses against the US dollar on Tuesday amid a noticeable intervention by the Central Bank of Iran.
EghtesadOnline: The US dollar made one more leap on Saturday extending a rally that has lasted for seven successive sessions. The greenback strengthened close to 5% against the rial in Tehran’s open market, adding 12,000 rials in one day to 252,000 rials.