Dollar fluctuates in Iran's markets as it continues to climb in value

Iran Materials 9 January 2012 16:23 (UTC +04:00)

Azerbaijan, Baku, Jan. 9/ Trend M. Moezzi

The dollar's price continued to increase and fluctuate in Iran's unofficial currency markets, the Islamic Republic News Agency (IRNA) reported.

Today, the rial to dollar rate swung between 16,920 and 17,100 rials to the dollar. The Euro's exchange rate increased 300 rials from yesterday to reach 21,500 rials, while the British pound dropped 330 rials to 26,300 rials.

There was no change in the 6.450 million rial price of old design whole Bahar Azadi gold coins. New design Azadi coins' value increased to 6.320 million rials, 70,000 rials more than yesterday. The Bahar Azadi gold coins are minted by the Central Bank of Iran (CBI).

Gold prices are fluctuating in world markets, increasing $7 from yesterday to reach $1,621 per ounce as of early this afternoon.

The CBI set the official rate for the dollar at 11,244 rials, 17,338 rials for the British pound, and 14,272 rials for the Euro.

The central bank's exchange rate for travelers was 13,643 rials. Travelers can use the rate only once a year and for only a thousand dollars.