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USD, Euro prices fall at Iran’s Forex center

Business Materials 17 June 2013 14:36 (UTC +04:00)

Azerbaijan, Baku, Jun.17/ Trend R.Zamanov

US dollar was sold at the price of 24,780 rials at Iran's forex center on Monday.

Euro was also presented at the price of 33,023 rials, while British pound was traded at 38,924 rials, the IRNA News Agency reported.

Euro, British pound and US dollar were traded at the prices of 33,097, 38,940, and 24,797 rials respectively on Sunday.

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

The latest reports released by the Central Bank of Iran shows that 20,245 applications have been registered at Iran's Foreign Exchange Center from the beginning of the current Iranian calendar year (March 21) until June 13.

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.

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