Currency and gold weaken in Tehran market

Financial Tribune – The currency market experienced a significant downturn on Wednesday after more than two weeks of bull market amid a noticeable decline in forex trade in Tehran’s open market.

Drop in currency rates in tandem with a bearish trend in the global precious metal market also pulled down domestic gold prices.

The US dollar fell 2,500 rials, or 1.5%, to 173,000 rials. A euro fetched 190,000 rials, down 2,000 rials compared to Tuesday’s close.

Moneychangers affiliated to the Central Bank of Iran were in the same league.