Forex rates decline further in Tehran market

Financial Tribune – Foreign exchange rates continued their downward trend on Tuesday even as new US sanctions are being imposed on Iran. According to reports from the open market, the rial was traded for 136,500 rials down from the previous day’s 140,000 rials.

The euro was traded for 158,000 rials, down 1,000 rials compared with Monday. The gold coin also dropped on Tuesday and fetched 43 million rials. Both gold and currency market have been particularly volatile in the past six months.