Euro, British pound prices fall at Iran’s forex center
Azerbaijan, Baku, July 13/ Trend R.Zamanov /
US dollar was sold at the price of 24,787 rials at Iran's forex center on Saturday.
Euro was also presented at the price of 32,355 rials, while British pound was traded at 37,437 rials, the IRNA News Agency reported.
Euro, British pound and US dollar were traded at the prices of 32,555, 37,522, and 24,769 rials on Thursday.
The foreign exchange center was officially inaugurated on September 24, 2012.
The latest reports released by the Iranian Central Bank 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 each working day.
The Iranian government plans to use revenues from petrochemical sales and 14.5 percent of its oil revenues to provide dollars for the center, central bank governor Mahmoud Bahmani said in September, 2012. He did not give an absolute figure for the amount of dollars to be supplied.
"With the distribution of currency in this center, the exchange rate in the market will go down, because some of the demand (for dollars) will be met in this center and the pressure of demand will be removed," Bahmani was quoted as saying.