Iran: Currency Rates Stable Amid Market Caution

April 25, 2021
banking

F oreign exchange rates in Tehran were mostly unchanged Saturday as the market waits for the outcome of diplomatic efforts to revive the landmark Iran nuclear deal and lifting of the US economic blockade.

According to Eghtesadnews website, the dollar was priced at 238,200 rials in the free market down 0.09% compared to Thursday.

Foreign currency prices have dipped in the past several weeks. The greenback recorded negative returns for the second successive month losing 4% in the month to March 19, and down 5.3% ending April 20.

Decline in demand and rates is apparently due to positive developments and reports related to talks in Vienna between Iran and the world powers to restore the nuclear deal. Meetings started in early April to bring back Tehran and Washington into full compliance with the accord.

financialtribune



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