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Tehran: The positive effects of the restoration of relations between Saudi Arabia and Iran in the last few days have started to emerge in the form of an increase in the price of the Iranian Rial.
Yesterday, the Iranian Rial regained some of its recent losses, with the Iranian Rial gaining more than 6 percent on Friday after Iran and Saudi Arabia agreed to resume diplomatic relations.
Foreign news agency According to the report After the restoration of relations with Saudi Arabia, the Iranian rule became more expensive by 6%, the value of the rule against the dollar was recorded at 447 thousand in the unofficial free market.
The foreign exchange website “Bonbast.com” reported that the value of Riyal against the dollar was recorded at 447,000 on Saturday in the unofficial free market, compared to 477,000 on Friday.
The riyal hit a record low of 601,500 against the dollar in late February, but the Iranian riyal rallied in March after a visit to Tehran by the head of the UN’s International Atomic Energy Agency eased tensions over Iran’s nuclear programme, I was fast
With the annual inflation rate exceeding 50 percent, Iranians are trying to preserve the value of their savings by buying foreign currency or gold. The riyal has lost around 30 percent of its value since nationwide protests began in September.