Dollar, Azadi rise vs Rial

Iran’s foreign exchange markets had a volatile trading week, culminating in a rise in the US dollar and gold coin prices. The dollar advanced 0.72 percent to 33,390 rials by the week’s close on Thursday.

Greenback started the week 50 rials above its weekly lowest, at 33,150 rials on Saturday in Ferdowsi Street – the center of currency trading in Iran. It hit the week’s high of 33,850 rials on Sunday, but spent the rest of the week declining to the week’s higher close. The Azadi gold coin shadowed the dollar’s moves in Ferdowsi, starting the week at 9,590,000 rials and gaining one percent to end the week at 9,690,000 rials. The Iranian benchmark for gold trading rose to a four-week high of 9,870,000 rials on Saturday, but later dropped to 9,560,000 rials on Tuesday, before climbing to the week’s close.

By Financial Tribune