After a short-lived downturn a day earlier, major currencies climbed again on Monday with the dollar drawing closer to 220,000 rials at the end of trading session.
After losing close to 9% and dropping to 215,000 rials on Sunday, the greenback fell further at the beginning of Monday’s session and sold for 210,000 rials. The currency was supported at the threshold level as prices resisted more decline.
The dollar eked out gains during the session and finally closed at 219,000 rials, up 4,000 rials, or 1.8%. It had declined sharply a session earlier, riding on the declining expectations spurred by positive economic developments announced by President Hassan Rouhani last week.