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USD, euro and pound fall at Tehran Forex Center

Business Materials 14 August 2013 13:50 (UTC +04:00)

Azerbaijan, Baku, Aug.14/ Trend F.Karimov/

U.S. dollar, Euro and British pound fell against Iranian rial today at the Tehran Forex Center compared to the day before, the Mehr News Agency reported.

U.S. dollar was sold at the price of 24,793 rials at Iran's Forex Center, compared to 24,794 rials on Tuesday.

Euro was also presented at the price of 32,879 rials, while British pound was traded at 38,292 rials, compared with 32,996 rials and 38,335 rials, respectively.

Iran's foreign exchange center was officially inaugurated on September 24, 2012.

The rial is currently trading for about 32,000 to the dollar in the open market.

On July 6, the Central bank of Iran on its website listed the price of a dollar at 24,779 rials. That rate replaced the previous official "reference" rate of 12,260 rials to the dollar.

Since January 2012, the Iranian government had maintained a subsidized rate of 12,260 rials to the dollar, meant to be used for importing the most vital goods such as food and medicine.

Iranian new president Hassan Rohani, who succeeded former President Mahmoud Ahmadinejad, has said he seeks to revive Iran's economy by improving relations with the world and seeking relief from economic and financial sanctions.

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