U.S. dollar price falls at Iran’s free market
Tehran, Iran, Oct. 12
By Milad Fashtami - Trend:
U.S. dollar was sold at the price of 32,450 rials at the free market on October 12, while Euro was presented at the price of 41,400 rials.
British pound was also sold at 52,500 rials on Oct.12, Iran's IRNA news agency reported.
U.S. dollar, British pound, and euro were traded at the prices of 32,600, 52,500, and 41,600 rials on Oct.11.
Iran's national currency, the rial, lost about 50 percent of its foreign exchange value in less than a week in October 2012, standing at 35,500 versus the dollar. It was close to 10,000 in early 2011.
The government has set the 28,500 rials price for the free market, but the brokers refuse to trade dollar at the mentioned price.