Dollar dips slightly against Iran’s rial

Iran Materials 12 January 2012 15:23 (UTC +04:00)

Azerbaijan, Baku, Jan. 12 /Trend M. Moezzi/

Iran's currency, the rial, increased slightly in value against the dollar in Iran's non-government currency market, on Thursday, the Islamic Republic News Agency (IRNA) reports.

After several weeks of the dollar's climb in value, today's rate of 17,000 rials to the dollar was 100 rials lower than yesterday. The Euro's value increased to 22,000 rials, a 100-rial increase from yesterday, while the British pound stayed at 27,200 rials.

Gold coin prices dropped from yesterday too. Old design whole Bahar Azadi coins were being sold for 6.8 million rials, a 50,000-rial decrease from yesterday and the new design whole coins were 6.65 million rials,100,000 less than Wednesday. The Central Bank of Iran (CBI) mints the Bahar Azadi coins.

The CBI set the dollar's official rate at 11,262 rials, the British pound at 17,248 rials and the Euro at 17, 248 rials.

The dollar's rate for travellers was set at 13,662 rials for Thursday. This rate applies to one trip a year and is for a maximum of 1000 dollars.