Financial Tribune - Spike in foreign currency rates gained momentum on Monday after an average 3% climb a day earlier.

Each US dollar was quoted 155,000 rials by exchange-bureaus affiliated to the Central Bank of Iran, up 4,000 rials compared with Sunday�s close.

The euro hiked more than 3% and was changed for 170,000 rials while the UK pound sterling moved above 200,000 rails, according to data from Tehran Gold and Jewelry Union website.