USD, Euro prices rise at Iran’s forex center

Business Materials 3 June 2013 14:38 (UTC +04:00)

Azerbaijan, Baku, Jun.3/ Trend R.Zamanov

US dollar was sold at the price of 24,781 rials at Iran's forex center on Monday.

Euro was also presented at the price of 32,234 rials, while British pound was traded at 37,718 rials, the IRNA News Agency reported.

Euro, British pound and US dollar were traded at the prices of 32,114, 37,667 and 24,780 rials respectively on Sunday.

The new foreign exchange center was officially inaugurated on September 24, 2012.

The latest reports released by the Central Bank of Iran shows that 16,777 applications worth some 5.847 billion dollars have been registered at Iran's Foreign Exchange Center from the beginning of the current Iranian calendar year (March 21) until May 30.

The 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.