Currency, gold weaken in Tehran

Financial Tribune – Foreign currency rates declined in Tehran’s open market on Saturday for the third consecutive day with the downturn extended to the gold market.

The US dollar was traded 156,000 rials, down from 158,500 rials quoted by moneychangers and currency dealers in Tehran’s free market on Thursday.

Euro dropped about 2% to 168,000 rials and the UK pound sterling retreated to 192,000 rials, down from 197,000 rials a session earlier.

Currency rates soared to 166,000 rials for one dollar in early April when dealers and middlemen gouged prices in the absence of authorized exchange bureaus and moneychangers affiliated to the Central Bank of Iran.