Currencies and Gold Advance

EghtesadOnline: Major currencies continued to advance in open markets on Sunday extending gains a session earlier.

News ID: ۷۸۵۸۸۱

01 February 2021

The dollar strengthened above 240,000 rials gaining 1,500 rials to be traded at 244,500 rials at Tehran. The greenback climbed less compared to other currencies. On Saturday it had gained  2.3%.

The biggest gains were recorded for the UK pound sterling and the euro as both gained 1.4% to fetch 338,000 rials and 299,200 rials, respectively. The UAE dirham was worth 67,700 rials -- 1% higher than Saturday's close.

The greenback also made relatively big gains at the regulated market and was sold for 235,570 rials up 2.3% compared to the previous day.

Iran’s regulated market is a network of banks and certified moneychangers under CBI auspices and deals in wholesale currency.

Spurred by rising forex rates, gold prices too were higher on Sunday. The Emami gold coin traded for 111.15 million rials, gaining 2.5 million rials or 2.2% compared to the previous session.

Half Bahar Azadi coin was up 0.8% to reach 62 million rials, 500,000 rials higher than the previous day. One gram of 18-karat gold fetched 11.08 million rials, 201,000 rials or 1.85% higher compared to Saturday.