Financial Tribune – With last week’s brief volatility behind, the currency market in Tehran experienced more stability on Saturday. The US dollar, which had surged above the resistance level of 140,000 rials last week, was traded for 137,000 rials in the open market.
In a rather rare occasion, both the regular exchange bureaux and bank-affiliated exchange shops (which usually sell currency at a bit lower price than the market) both offered the same price for the dollar.
The euro was sold for 156,000 rials, down from the previous trading day’s 159,000 rials. Gold and foreign currency rates jumped last week as the US government moved to designate a branch of Iran’s military as a terrorist organization.