Financial Tribune - After a brief hiatus major currencies resumed rallies going back to their bad old ways in Tehran on Wednesday as CBI�s selected moneychangers demanded higher rates.

The US dollar rose to 224,000 rials in the free market, up approximately 5,000 rials compared to a session earlier to grab 2.3% gain overnight. Euro hiked about 1.5% to 250,000 rials and the UK pound sterling fetched 279,000 rials, up slightly from 276,000 rials the day earlier.

To bridge the price gap with free market prices, the so-called official selected moneychangers affiliated to the Central Bank of Iran increased the dollar rate by more than 2%.