USD exchange rate increases in Tehran

Business Materials 17 October 2011 18:22 (UTC +04:00)

Azerbaijan, Baku, Oct. 17 / Trend A. Gurbanova/

The USD exchange rate climbed on foreign independent exchange market Monday while the price of gold had slight change, Mehr News Agency reported.

The euro rate in foreign independent exchange market also increased to 17,350 rials.

The Central Bank of Iran also increased USD exchange rate independent exchange to 10,550 rials, while euro was traded 14,610 rials.

The price of gold coin also increased to 5.7 million rials (about $510) despite current decline during last week.

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

The Central Bank of Iran began to reduce USD exchange rate to maintain the prices, but the gap between independent foreign exchange market and official USD rate increased while current fluctuation in global market shadowed Iranian gold market.