Currency rates climb in Tehran for 3rd straight day

Financial Tribune – The rial extended a losing streak against major currencies for the third day on Wednesday, pushing the Central Bank of Iran to intervene in the market to restore some semblance of calm.

The US dollar was traded 158,000 rials on Tehran’s open market for the day, up 2,000 rials compared to an earlier session. Euro changed hands for 171,000 rials, higher than 168,000 rials on Tuesday’s close.

Currency rates at moneychangers affiliated to the CBI soared 5.3% daily, rising from 148,000 rials to 156,000 rials on Wednesday. The euro rose 6.3% climbing to 169,000 rials.