The Iran Project

Iran currency market calm

Financial Tribune – Foreign exchange rates declined on Thursday, after a week of flurry brought the US dollar close to the psychological level of 140,000 rials the previous day.

According to market reports, the greenback was traded for 133,500 rials but it remains to be seen whether the decline will continue when markets reopen today (Saturday).

However, although the markets are closed on Friday, some news outlets reported the dollar rate had dropped below 130,000 rials, in reaction to FATF’s positive outcome for Iran.

In an Instagram post on Thursday, Abdolnaser Hemmati, governor of the Central Bank of Iran, ascribed the recent volatility to easing of import rules for border residents and sailors by the government and asked the decision to be revoked immediately.

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