Forex at three-month high

Financial Tribune – Currency rates in Tehran’s market have been rising since last week after more than three months of relative calm.

The US dollar changed hands for about 116,500 rials on Thursday, up 40,000 rials, or 3.5%, compared to prices a week earlier. One euro was sold for 127,500 rials and the pound sterling was worth 150,500 rials.

Rates at the Central Bank of Iran-affiliated moneychangers were slightly lower. The USD was sold for 115,500 rials in bank-based exchange bureaus, according to the data from the Tehran Gold and Jewelry Union website.

The USD on Wednesday briefly touched 117,500 rials, the highest in 90 days. The greenback was traded at or near 113,000 rials for more than 70 days before climbing steadily since last week.