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USD, euro rise, pound unchanged on Iran’s free market

Business Materials 18 October 2013 13:57 (UTC +04:00)

Azerbaijan, Baku, Oct.18/ Trend F.Karimov/

The U.S. dollar and euro rose against the Iranian rial on Thursday on Iran's free market compared to the previous working day (Tuesday), the Mehr News Agency reported.
Each USD sold at 30,350 rials, compared to 30,250 rials on Tuesday.

The Euro was also presented at the prices of 41,200 rials compared to 41,000 rials, but the pound remained unchanged at 48,400 rials.

The US dollar exchange rate against the Iranian rial dropped 0.2 per cent in the sixth Iranian calendar month of Shahrivar (ended September 22), compared to the previous month, ISNA quoted a report by the Iranian economy ministry as saying.

The US dollar was sold at an average price of 31,699 rials in the mentioned month, down 0.2 per cent compared to the previous month.

However, the euro was sold at an average price of 42,388 rials, up 0.3 per cent month on month.

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 subsidised rate of 12,260 rials to the dollar, meant to be used for importing the most vital goods such as food and medicine.

Iranian 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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