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USD, euro, pound fall on Iran’s free market

Iran Materials 4 October 2013 14:34 (UTC +04:00)

Azerbaijan, Baku, Oct.4/ Trend F.Karimov/

The U.S. dollar, euro and pound fell against the Iranian rial on Thursday on Iran's free market compared to the previous day, the Mehr News Agency reported.

The USD was sold at 30,300 rials, compared to 30,600 rials on Wednesday.

Euros and the pound sterling were also presented at the prices of 41,000 rials and 48,900 rials compared to 41,200 rials and 49,300 rials, respectively.

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, 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.

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