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Iran central bank governor says dollar will fall against rial

Business Materials 1 September 2012 20:26 (UTC +04:00)
Iranian Central Bank Governor Mahmoud Bahmani has predicted that dollar will fall against rial in the coming days, ILNA reported.
Iran central bank governor says dollar will fall against rial

Azerbaijan, Baku, Aug.31/ Trend F.Milad/

Iranian Central Bank Governor Mahmoud Bahmani has predicted that dollar will fall against rial in the coming days, ILNA reported.

He added that with inauguration of the foreign currency exchange, it can be achieved.
U.S. dollar was sold at 21,870 rials in Iran's unofficial market on Monday, compared to 21,770 rials on Sunday.

Pound and Euro were also traded at 34,700 rials and 27,500 rials respectively, compared to 34,740 rials and 27,500 the day before.

Each ounce of gold was sold at 1671 dollars in international markets.

Iran's central bank allowed trading in its currency at market levels after fixing the exchange rate in January as the threat of sanctions over the country's nuclear program and economic risks spurred Iranians to buy up dollars.

The bank on January 26 fixed the rate at 12,260 after the U.S. dollar surged to almost double that level in unofficial currency markets.

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