Iran increases USD official exchange rate

Business Materials 28 November 2013 15:42 (UTC +04:00)

Baku, Azerbaijan, Nov. 28
By Umid Niayesh - Trend:

The U.S. dollar exchange rate against the Iranian rial rose today on Iran's Forex Centre compared to the previous day, Fars news agency reported on Nov. 28.

The U.S. dollar was traded at 24,829 rials today, up 14 rials compared to Wednesday.

Euros were also presented at the price of 33,718 rials each, while the British pound was traded at 40,509 rials, the report said.

While the euro fell by 12 rials, the British pound rose by 251 rials.

The euro and British pound were traded at 33,730 rials and 40,258 rials respectively on Nov. 27.

The U.S. dollar was traded at 29,500 rials today on the free market which indicates a fall of 250 rials compared to Wednesday.

Meanwhile, the euro and British pound were sold at 40,200 rials and 48,350 rials on the free market respectively, indicating an increase of 100 rials and 450 rials compared to the previous day.

The deal on the Iranian nuclear programme between Iran and the P5+1 on Nov. 24 and society's optimistic mood had a temporary influence on the market causing prices to drop sharply, but the falling trend has not continued.

Iran's national currency the rial, lost about 50 per cent of its foreign exchange value in less than a week in October 2012, standing at 35,500 versus the dollar. It was close to 10,000 in early 2011.