FX rates cross new threshold in Tehran market

Financial Tribune – Iran currency market was hit with a new bout of volatility on Wednesday with the US dollar crossing another threshold on the open market. According to the Tehran Gold and Jewelry Union website, the dollar was trading at around 183,470 rials late afternoon, from around 168,000 rials the day before.

The rial was quoted at 214,320 to the euro and 240,380 to the UK pound on Wednesday.

As the volatility continued, the Central Bank of Iran issued a statement saying that the currency needs of the people will be met in extra bank branches from next week.