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USD, Euro and Pound fall in Iran’s free market

Business Materials 30 August 2013 12:23 (UTC +04:00)

Azerbaijan, Baku, Aug.30/ Trend F.Karimov/

U.S. dollar, euro and pound exchange rates against the Iranian rial fell on Thursday in Iran's free market compared to Wednesday rates, the Mehr News Agency reported.

U.S. dollar was sold at the price of 32,300 rials compared to 32,800 rials the day before. Pound was also presented at the price of 49,900 rials compared to 50,400 rials. Euro was sold at 43,000 rials compared to 43,500 rials on Wednesday.

On July 6, the central bank of Iran on its website listed the price of a dollar at 24,779 rials. That rate replaced the previous official "reference" rate of 12,260 rials to the dollar.

Since January 2012, the Iranian government had maintained a subsidized rate of 12,260 rials to the dollar, meant to be used for importing the most vital goods such as food and medicine.

Iranian new president Hassan Rohani, who succeeded former President Mahmoud Ahmadinejad, has said he seeks to revive Iran's economy by improving relations with the world and seeking relief from economic and financial sanctions.

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