Currency, gold rally to new highs in Tehran

Financial Tribune – Currency rates jumped against the rial on Saturday in Tehran market amid rising demand and apparently a shortage in supply.

The US dollar was traded between 151,000 to 153,000 rials, the highest in the past nine months. The greenback climbed as high as 155,000 rials during the session only to dip down later in the day.

Bank-affiliated exchange shops, however, sold the greenback at 145,300 rials. The moneychangers function as the Central Bank of Iran’s arm for market control.

The dollar marked at least 4.2% growth compared to Thursday and was up 7.4% over the past seven days.