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U.S. dollar price soars to 23,850 rials in Iran

Business Materials 9 September 2012 15:18 (UTC +04:00)
U.S. dollar rose by more than 1,000 rials in Iran’s unofficial market on Sunday, reaching 23,850 rilas compared with 22,810 rials on Saturday, the Fars news agency reported.

Azerbaijan, Baku, September 9 /Trend F. Milad/

U.S. dollar rose by more than 1,000 rials in Iran's unofficial market on Sunday, reaching 23,850 rilas compared with 22,810 rials on Saturday, the Fars news agency reported.

Pound and Euro were also traded at 37,200 rials and 30,500 rials compared with 36,000 rials and 29,100 rials on Saturday.

Each ounce of gold was sold at 1736 dollars in international markets, compared to 1692 dollars a week ago.

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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