Currency, gold keep climbing

Financial Tribune – Forex rates moved above 260,000 rials on Sunday to extend a rally that has strengthened since the beginning of the previous week.

The dollar made a big leap forward and rose by 5,000 rials, or 2%, to reach 267,000 rials at the close of Sunday’s session. The rial has tanked more than 10% since the new turmoil in the currency market from the beginning of this month.

Similarly, the euro rose 2% to 317,000 rials, the UK pound sterling soared to 342,000 rials, up 5000, and the UAE dirham gained 1.9% climbing to 73,000 rials.

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