U.S. dollar jumps to 22,050 rials in Iran

Business Materials 5 September 2012 17:47

Azerbaijan, Baku, Sep.5/ Trend F.Milad/

U.S. dollar was sold at 22,050 rials in Iran's unofficial market on Wednesday, compared to 21,790 rials on Tuesday, the Mehr news agency reported.

Pound and Euro were also traded at 34,980 rials and 27,730 rials respectively, compared to 35,000 rials and 27,850 rials the day before.

Each ounce of gold was sold at $1,691 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 the unofficial currency markets.