Value of Iran national currency rises by 6 percent in three weeks
Tehran, Iran, Jul. 1
By Milad Fashtami - Trend:
The value of Iran's national currency - the Rial - has increased by 6 percent in the past three weeks.
U.S. dollar was sold at the price of 31,050 rials at the free market on June 30, while Euro was presented at the price of 42,700 rials.
It is while the exchange rate of US dollar three weeks ago was around 33,000 rials.
Experts believe that an optimistic atmosphere about Iran and the P5+1 group of countries' possible agreement over a comprehensive deal is the main reson behind the value rise, Iran's Donyaye Eqtesad news website reported on June 30.
The beginning of Muslims' holy month of Ramadan and a sharp drop in the number of foreign trips, as well as unfreezing a part of Iran's assets are among the other reasons.
Based on the six-month interim deal between Tehran and the P5+1 some $4.2 billion of Iran's assets were unfroze. Iran has already received $3.1 billion of the mentioned figure in three installments, while it expects to receive the remaining $1.1 billion by the end of current year through India.
Iran's national currency, the rial, lost about 50 percent 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.
The government has set the 28,500 rials price for the free market but the brokers refuse to trade dollar at the mentioned price.