Dollar Enters 260,000-Rial Threshold

EghtesadOnline: Foreign exchange rates continued to rise on Saturday, with the US dollar entering the 26,000-rial channel, the highest in the past four weeks.

News ID: ۷۸۵۹۸۱

14 February 2021

Each US dollar was sold at 261,200 rials on Saturday in Tehran's open market, up 1.22% compared with the previous trade session.

The greenback started its uptrend on Wednesday, when it gained 1.51%. The currency finished on Thursday at 258,000 rials, 2.71% higher than the previous day's close.

Melli Exchange Company and exchangers affiliated with banks sold the dollar at 249,800 rials on Saturday. These moneychangers act as the arms of the Central Bank of Iran for controlling exchange rates in the open market.

The price of dollar in CBI's regulated market increased by 1.78% to 254,250 rials. Iran’s regulated market is a network of banks and certified moneychangers under CBI’s auspices and deals in wholesale currency.

Euro also started the week higher. The currency posted an increase of 1.8% or 5,740 rials in its price during the Saturday trade, as it changed hands for 318,300 rials. Emirati dirham finished the day slightly higher, as moneychangers sold the currency at 72,300 rials, up 0.69%.

Gold coin prices also kept increasing on the first day of the week under the influence of higher forex rates in Tehran and rising bullion prices in global markets.

Emami Gold Coin posted a 1.23% growth compared with Thursday's close, being traded at 121.5 million rials.

Half Bahar Azadi Gold Coin also gained 0.75% during the day and was sold at 66.5 million rials. Quarter Bahar Azadi Gold Coin was priced at 44.5 million rials, up 1.12% or 500,000 rials compared with the previous day's close.