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US dollar drops in Iran’s free market

Business Materials 19 January 2016 16:33 (UTC +04:00)

Baku, Azerbaijan, Jan. 19

By Fatih Karimov - Trend:

The US dollar in Iran's free market was sold at 36,090 rials on Jan. 19, some 160 rials less compared to Jan. 18.

The euro also decreased by 100 rials as it was sold at 39,500 rials on Jan. 19, Iran's Fars news agency reported.

The Central Bank of Iran has put the official rate of US dollar, at 30,183 rials on Jan. 19 compared to 30,181 rials in Jan. 18.

Iran's national currency, the rial, lost about 50 percent of its foreign exchange value in less than a week in October 2012, standing at 35,500 versus the US dollar. It was close to 10,000 in early 2011.

Meanwhile Tehran Stock Exchange (TSE) main index rose by 998 points to hit 66,118 on Jan. 19.

Some 1.084 billion of equities worth 2.296 quadrillion rials were traded by the end of day at Tehran Stock Exchange on Jan. 19, the official website of the TSE reported.

TSE trades a range of shares, funds and financial instruments, including Sukuk and Islamic funds. It has not received foreign investment for several years because of sanctions over Iran's nuclear program.

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