Dollar Rally Resumes

November 3, 2020

T he US dollar rally resumed Sunday against the national currency after retreating 17% from the record high of 320,000 rials reached two weeks ago.

The greenback advanced during the session closing at 280,000 rials in Tehran’s open market, rising more than 10,000 rials, or 3.7%, compared with a session earlier.

The greenback lost almost 10% over the past week in light of the Central Bank of Iran’s measures to control rates, mainly injection of currency in the market. The CBI said it sold an average $70 million a day last week.


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