U.S. dollar hits 22,810 rial in Iran

Iran Materials 8 September 2012 15:03 (UTC +04:00)

Azerbaijan, Baku, Sep.8/ Trend F.Milad/

U.S. dollar was sold at 22,810 rials in Iran's unofficial market on Saturday, compared to 21,900 rials a week ago, the Mehr news agency reported.

Pound and Euro were also traded at 36,000 rials and 29,100 rials respectively, compared to 35,000 rials and 27,770 rials in previous Saturday.

Each ounce of gold was sold at $1,736 in international markets, compared to $1,692 a week ago.

Iran's central bank allowed trading in its currency at market levels after fixing the exchange rate in January as the threat of sanctions over the country's nuclear program and economic risks spurred Iranians to buy up dollars.

The bank on January 26 fixed the rate at 12,260 after the U.S. dollar surged to almost double that level in the unofficial currency markets.