Forex rates rise unabated in Tehran market

Financial Tribune – Currency rates are rising unabated in Tehran with exchange bureaus affiliated to, and working for, the Central Bank of Iran again the increased the dollar rate by 3.65% on Sunday after the 10% rise a day earlier.

These moneychangers for the second session in a row officially raised the dollar price by 7,610 rials on Sunday to 216,460 rials.

The latest CBI-engineered surge is with the declared aim of “reducing the price difference with unofficial rates quoted by currency dealers in the open market.”

It was reported that the regulator was “forced to increase the dollar rate” by 20,000 rials on Saturday to eliminate the “price arbitrage” that went up as high as 17,000 rials.