Currency gains in Tehran market

Financial Tribune- Most foreign currencies in Tehran’s market gained against the rial on Sunday, as the currency demand for overseas travel increase toward the end of December and the holiday season.

The rial was quoted at 42,070 to the dollar and continued to break its all-time low record against the greenback.

The rial was also quoted at 50,370 to euro, marking a slight gain as it hovers around a multi-year record against the European currency.

The Central Bank of Iran fixed the exchange rate for the dollar and euro at 35,434 and 41,714 respectively.

The CBI is trying to bridge the gap between the official and open market rates in its longtime bid to unify the dual foreign exchange rates.

On Saturday, the bank announced that it had removed another eight goods and services from the list of those eligible to receive subsidized hard currency–another move interpreted to be in line with rate unification.