USD, euro, pound fall in Iran’s Forex Centre

Iran Materials 12 August 2013 12:41 (UTC +04:00)

Azerbaijan, Baku, Aug.12/ Trend F.Karimov/

The U.S. dollar, euro and British pound fell against the Iranian rial today compared to the previous day, IRNA reported.

This meant the U.S. dollar was sold at the price of 24,790 rials at Iran's Forex Centre, compared to 24,792 rials on Sunday.

The Euro was also presented at the price of 33,033 rials, while the British pound was traded at 38,410 rials, down 43 rials and 39 rials, respectively.

Iran's foreign exchange centre was officially inaugurated on September 24, 2012.

The rial is currently trading for about 32,000 to the dollar on the open market.

On July 6, the central bank of Iran on its website listed the price of a dollar at 24,779 rials. That rate replaced the previous official 'reference' rate of 12,260 rials to the dollar.

Since January 2012, the Iranian government had maintained a subsidised rate of 12,260 rials to the dollar which is meant to be used for importing the most vital goods such as food and medicine.

Iranian new president Hassan Rohani, who succeeded former President Mahmoud Ahmadinejad, has said he seeks to revive Iran's economy by improving relations with the world and seeking relief from economic and financial sanctions.