US dollar price rises at Iran's free market as nuclear talks' deadline looms
Tehran, Iran, Nov. 24
By Milad Fashtami - Trend:
U.S. dollar was sold at the price of 32,500 rials at the free market on November 24.
Euro and British pound were also presented at the prices of 40,600 and 51,000 rials.
U.S. dollar, euro, and British pound were traded at the prices of 32,440, 40,450, and 50,800 rials, respectively, on Sunday.
The rise in the exchange rate of foreign currencies at Iran's free market comes as talks are underway between representatives of Tehran and the P5+1 group of countries to reach a comprehensive agreement over Iran's nuclear program before midnight deadline.
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.