Forex Leap in Tehran’s Market

EghtesadOnline: Foreign exchange rates were mostly increasing in the past seven days, mainly under the influence of political developments.

News ID: ۷۸۵۹۶۸

13 February 2021

The US dollar rose by nearly 10,000 rials during Wednesday and Thursday trade, rising as high as 260,000 rials. The currency was traded at 258,000 rials on Thursday, 2.71% higher than Wednesday's close, according to Eghtesad News website.

Even bank-affiliated money exchangers, considered as the arm of the Central Bank of Iran for controlling exchange rates, sold the greenback at considerably higher price of 246,000 rials, up 2.84%, on Thursday.

Dollar was traded at 249,760 rials at CBI's regulated market on Thursday, 3.37% higher than Wednesday's close. Iran’s regulated market is a network of banks and certified moneychangers under CBI auspices and deals in wholesale currency.

Euro also made a 3.18% jump on Thursday in Tehran's free market, being priced at 298,500 rials. Emirati dirham also experienced a 3.84% growth, being traded at 71,800 rials.

Significantly influenced by exchange rates hike, gold coin prices also registered a jump in the last trading day of the week. Emami Gold Coin posted a 2.91% growth compared with the previous day's close, with its price hitting 120 million rials.

Half Bahar Azadi Gold Coin also gained 3.03% during the day and was sold at 66 million rials. Quarter Bahar Azadi Gold Coin was priced at 44 million rials, up 3.4 or 1.5 million rials compared with Wednesday's close.

Experts believe that the growth in exchange rates, gold prices in global markets and the seasonal growth in demand for purchasing gold coins are the key reasons behind the rise in gold coin price.