USD rate falls in Iran

Iran Materials 5 January 2012 17:46 (UTC +04:00)

Azerbaijan, Baku, Jan. 5/ Trend M. Moezzi/

While the U.S. dollar's value was down slightly today, at 15,800 rials, its value was expected to fluctuate throughout the day, the Islamic Republic News Agency (IRNA) reported.

The Euro's value dropped today to 21,000 rials while the British pound's exchange rate increased to 25,500 rials.

In the gold coin market, old design Bahar Azadi coins were traded for 6.35 million rials on the free market today while new design Bahar Azadi coins remained at 6.2 million rials. The Bahar Azadi gold coins are minted by Iran's central bank.

The Central Bank of Iran's official exchange rate for the U.S. dollar did not change from the day before and stood at 11,180 rials. The bank's rate dropped 44 rials to 17,442 rials for the pound and its rate for the Euro dropped 129 rials to 14,445 rials.

The rial to dollar exchange rate set for travelers was 13,524 rials. According to the central bank's policy, travelers' rate foreign currency can be purchased once each year and starting today only $1,000 can be bought instead of $2,000.