Gold and Currency Surge in Tehran Market

The US dollar was traded above the psychological level of 130,000 rials on Saturday and was worth 132,000 rials in Tehran’s open market -- the highest in the past five months.

The greenback gained about 2% against the rial and the euro was sold for 143,000 rials, up 2,000 rials (or 1.5%) compared with Thursday’s closes, according to Tehran Gold and Jewelry Union's website.

Rates at the Central Bank of Iran-affiliated moneychangers were slightly lower. The USD was worth 129,000 rials in bank-based exchange bureaus.

The gold market was also bullish. Each Emami gold coin was sold for 46.1 million rials on Saturday, rising from 45.6 million rials compared with the previous day’s close. The benchmark Bahar Azadi fell slightly to 42.6 million rials, down 0.4%.