Dollar costs 17,000 rials in Iran market
Azerbaijan, Baku, May 19 / Trend M. Moezzi /
The non-official exchange rate for one dollar was 17,000 rials in Iran's markets today.
Old design gold coins cost $554 on the free market while new design coins fetched $546, Mehr news agency reports.
The Central Bank of Iran mints and sells the coins.
The euro's selling price was 22,000 rials while traders bought the currency for 21,300 rials from customers. The price of one British pound was 27,770 rials and it was bought for 26,500 rials.
The price of gold coins has dropped significantly in recent weeks. Both old and new design gold coins' cost more than $700 in late January.
The dollar too, has lost some of its value in Iran's currency market since winter when one dollar was pegged at 20,000 rials.
The Iranian Central Bank's official exchange rate is 12,260 rials to $1.