TEHRAN – Iran’s central bank chief on Monday warned investors speculating on the fall of the rial that they were heading for losses because the currency was likely to rebound in the next couple of months.

Valiollah Seif made the remarks as the rial sank to record lows versus the dollar.

“Those who are investing their resources in foreign exchange will suffer losses in the end,” Seif was quoted by Reuters as saying.

He added that rising oil prices had given Iran more resources to support its currency.
 
MH/PA