U.S. dollar price rising to 28,440 rials in Iran
Azerbaijan, Baku, Sep.30/ Trend F.Milad/
U.S. dollar price is on the rise in Iran's free market, so that it was sold at 28,440 rials on Sunday, compared to 28,100 rials on Saturday.
Euro was also traded at 37,400 rials, compared to 36,000 rials the day before, respectively.
Iran inaugurated a foreign exchange transaction center on Monday, which allows importers of goods to buy dollars at a rate 2 percent cheaper than the street rate at any given time.
The government maintains an official reference rate of 12,260 rials to the dollar, but only a limited amount of foreign exchange is available at this rate.
The government plans to use revenues from petrochemical sales and 14.5 percent of its oil revenues to provide dollars for the center, central bank governor Mahmoud Bahmani said. He did not give an absolute figure for the amount of dollars to be supplied.
"With the distribution of currency in this center, the exchange rate in the market will go down, because some of the demand (for dollars) will be met in this center and the pressure of demand will be removed," Bahmani was quoted as saying.