Foreign currencies slipped in Tehran’s free market on Sunday impacting the bullion market.
The dollar was down 2.3% after logging about 7% gain against the rial in three consecutive sessions to Saturday. It was traded at 320,000 rials, almost 7,000 rials lower from the session before.
Likewise, the euro was worth 334,900 rials to post nearly 2.4% decline or 7,900 rials. The GBP bought 390,700 rials, falling 2.3% or 9,200 rials while the UAE dirham was traded 2,100 rials lower at 87,600 rials.
The downturn at the currency market is seemingly linked to increase in supply, according to Kamran Soltanizadeh, general secretary of the Association of Bureaux de Change Operators.
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