Iran’s Central Bank to add foreign currency to the market
Azerbaijan, Baku, Dec. 26/ Trend M. Moezzi/
Given the sharp climb in the dollar's value from 12,000 rials per dollar to more than 15,000 rials, the Central Bank of Iran (CBI) plans to introduce foreign currency to Iran's market to drive down prices, Irna News Agency reports.
Those involved in the currency market say the dollar's price has increase because the CBI has reduced its supply to the market.
Since today, dollar's price was 11,505 rials in the free market; 10 minutes later it had climbed to 11,530 rials and reached 11,550 rials. By 2 p.m., its value had dropped to 11,510.
On Monday, the CBI's official rate for the dollar was 11,120 rials.