USD price falls at Iran’s forex center

Business Materials 16 November 2013 11:33 (UTC +04:00)

Baku, Azerbaijan, Nov. 16

By Rahim Zamanov - Trend:

US dollar was sold at the price of 24,799 rials at Iran's forex center on Saturday.

Euro was also presented at the price of 33,472 rials, while British pound was traded at 39,962 rials, the IRNA News Agency reported.

Euro, British pound and US dollar were traded at the prices of 33,438, 39,775, and 24,891 rials on Tuesday.

There were no trades on Wednesday, Thursday, and Friday.

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 each working day.