U.S. dollar drops to 15,600 rials

Business Materials 4 January 2012 16:49 (UTC +04:00)

Azerbaijan, Baku, Jan. 4/ Trend M. Moezzi

Iran's rial-to-dollar exchange rate used in unofficial transactions was 15,600 rials on Wednesday, which is 400 rials less than the previous day, Islamic Republic News Agency (IRNA) reported.

Meanwhile, the Euro's value hit 22,100 rials, which is 100 rials more than Tuesday's figure, and the British pound was worth 25,000 rials, showing a 260-rial increase.

In the gold coin market, old design Bahar Azadi coins' free market value decreased by 50,000 rials to 6.35 million rials while new design Bahar Azadi coins were traded at 6.2 million rials. The Bahar Azadi gold coins are minted by Iran's Central Bank.

The Central Bank of Iran's official exchange rate was 11,180 rials for the U.S. dollar, 17,486 rials for the British pound and 14,574 rials for the Euro.

The rial-to-dollar exchange rate set for travelers hit 13,504 rials.

The dollar's value has increased steeply in recent days amid the new sanctions against Iran.