Tehran Market: Euro and USD keep climbing

Financial Tribune – Foreign exchange rates were again defiant and continued to climb on Tuesday with the US dollar surpassing the all-time high of 160,000 rials.

According to the Tehran Gold and Jewelry Union website, the dollar was traded for 163,130 rials on the open market. The euro gained close to 2% with the single currency changing hands at 191,090.

The volatile foreign exchange market took another body blow soon after Donald Trump abandoned the landmark nuclear deal in May, with the rial going from 62,000 to the dollar to as low as Tuesday’s 163,130.