Forex and gold prices soar in Tehran market

Financial Tribune – Currency prices shot up again on Monday in Tehran as bank-affiliated moneychangers tagged the US dollar at 165,000 rials — the highest in the past 20 months. Cold coin prices also increased by another 1.3 million rials to hit an all-time high of 70 million rials ($424).

The greenback gained 2,000 rials, or 1.84%, compared to the previous day’s close. Euro also dearer 2,000 rials or 1.65% and fetched 179,000 rials.

In the past two days, bank-affiliated exchange shops, considered as CBI’s arm for controlling the market, demanded higher rates getting closer to those of the free market.