Iran's rial weakens past 189,000 per dollar as currency pressure persists

WASHINGTON, United States — The U.S. dollar rose to around 189,700 rials on Iran's free market on Thursday, gaining roughly 400 rials, or 0.21%, from the previous session, according to local market data. The euro traded at 221,030 rials, up 0.76%, and the pound reached 257,670 rials, a 0.57% increase, on the same day. The dollar had retreated to about 153,000 rials on June 16 after Tehran and Washington reached an understanding to end the war, market figures showed. Renewed military tensions and uncertainty over the future of the talks have since pushed the currency back upward. After touching a historic high of 191,000 rials in July, the dollar eased but has remained close to that level in recent sessions, the data indicated. In the over-the-counter gold market, the price of an 18-karat gram rose roughly 0.92% to around 19.85 million rials, while a new quarter gold coin sold for 199.5 million rials.