Baku, Azerbaijan, Dec. 29
By Fatih Karimov - Trend: Iran predicts foreign currency exchange rates will fall as of January.
Valiollah Seif, Governor of the Central Bank of Iran, said high demand for foreign currency has increased exchange rates, but it is predicted that the demand will fall as of January and the market situation will stabilize, Iran's Fars news agency reported Dec. 29.
Today the US dollar was sold at 35,620 rials in Iran's free market, a 30-rial fall compared to Dec. 28. Euro and pound were sold at 43,530 rials and 55,590 rials respectively, a 70-rial and a 140-rial fall respectively compared to Dec. 28.
During ex-President Mahmoud Ahmadinejad's second term, Iran's rial lost its value by about four times.
Each US dollar was sold at 9,830 rials in 2009, but the figure reached 36,000 in mid-2013, when Hassan Rouhani replaced Ahmadinejad.
Edited by CN