Iran currency market: Rial seems unperturbed by new US restrictions

Financial Tribune – The rial rallied on Saturday paring much of its losses during the past week even as the US sanctions on Iran’s oil exports are certain to take effect by Monday. According to reports from exchange bureaus, the US dollar was traded for 143,000 rials, down from 150,000 rials on Thursday.

The national currency was quoted at 165,500 to the euro and 185,000 rials to the pound, gaining against both currencies by 7,000 rials. Bahar Azadi gold coin was also down Saturday, with the benchmark coin fetching 45 million rials ($325).