Dollar rallies above 240,000 rials

Financial Tribune – Major currencies resumed their climb versus the rial from Monday with the dollar rising more than 10,000 rials in Tehran’s open market compared to prices quoted Thursday.

The greenback was traded around 233,000 rials in the previous trading week before soaring to 238,000 rials on Monday as markets reopened after 2 days of religious holidays.

It gained momentum on Tuesday to reach 243,000 rials, up more than 3.5% compared to Thursday’s close.

Other currencies, namely the euro and the British pound sterling, also gained for the day, with the former rising by 2.5% to reach 290,000 rials and the latter traded close to 326,000 rials.