USD, euro prices rise at Iran’s forex center

Business Materials 1 May 2013 10:27 (UTC +04:00)

Azerbaijan, Baku, May.1/ Trend R.Zamanov

US dollar was sold at the price of 24,779 rials at Iran's forex center on Wednesday.

Euro was also presented at the price of 32,620 rials, while British pound was traded at 38,487 rials, the Mehr News Agency reported.

Euro, British pound and US dollar were traded at the prices of 32,431, 38,363, and 24,24,778 rials respectively on Tuesday.

The new foreign exchange center was officially inaugurated on September 24. Some 21,013 applications worth 7.5 billion dollars have been registered at the center until February 28.

The new center allows importers of goods including truck tires, construction equipment and synthetic fibers to buy dollars at a rate 2 percent cheaper than the street rate at any given time.

According to the center's spokesman Samad Karimi, Iran's forex center has the capacity to trade over 100 million dollars each working day.

The government maintains an official reference rate of 12,260 rials to the dollar, but only a limited amount of foreign exchange is available at this rate.