Currency at new low; Iran’s CB says will defend Rial

Financial Tribune – Major currencies soared in Tehran on Tuesday amid new concerns among market participants about a decision by the Financial Action Task Force on Iran by the weekend.

The US dollar was worth 14,440 rials in Tehran’s open market, up 2,500 rials compared to Monday’s close. One Euro bought 15,600 rials.

Currency prices have been rising over the past several days as the FATF, the international money-laundering watchdog, gets ready to decide whether or not to put Iran on its dreaded blacklist.