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US dollar falls in Iran’s Forex Center

Business Materials 29 December 2012 10:58 (UTC +04:00)

Azerbaijan, Baku, Dec. 29/ Trend G.Mehdi/

US dollar was priced at 24,580 rials on Saturday at Iran's Forex Center, showing decline compared to Thursday, the Mehr News Agency reported.

Euro and pound were sold at 32,490 rials and 39,700 rials, respectively.

The government maintains an official reference rate of 12,260 rials to the dollar. The street rate is currently 32,800 rials.

Dollar price had reached 40,000 rials in October but by inauguration of the foreign exchange center the prices fell to 27,000 rials.

Critics believe that Iranian government is not controlling the price of dollar at the free market on purpose. They claim that the government wants to take advantage of selling dollar at the free market in order to compensate its lack of budget.

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