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USD rate increases in Iran

Business Materials 18 July 2011 17:45

Azerbaijan , Baku, July 18 /Trend/

The Central Bank of Iran increased USD exchange rate Monday to 10,554 rials while it traded 11,450 rials on independent foreign exchange market, IRNA reported.

Price of gold coin Bahar-e Azadi remained stabled comparing to prices last Saturday.

The Central Bank of Iran reduced the official price of euro by 86 rials to 14,847 rials while it also reduced on independent foreign exchange market to 16,300 rials.

The price of gold coin reduced in independent market by 20,000 rials to 4.280 million rials (about $380) while the official price remained stable.

Bahar-e Azadi Coin is an Iranian gold coin minted by the Central Bank of Iran (CBI).

Cut of foreign currency supply have recently resulted in increase of dollar rate and gold coin prices on the market. However, the Central Bank of Iran started to reduce USD prices to maintain the gap.

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