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US dollar price falls to 32,450 rials on Iran’s free market

Business Materials 2 November 2014 15:31 (UTC +04:00)

Tehran, Iran, Nov. 2
By Milad Fashtami - Trend:

U.S. dollar was sold at the price of 32,450 rials on the free market on November 2, while Euro was presented at the price of 41,050 rials.

British pound was also sold at 52,000 rials on Sunday, Iran's IRNA News Agency reported on November 2.

U.S. dollar, British pound, and euro were traded at the prices of 32,520, 52,000, and 40,960 rials on Saturday.

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 compared to 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.

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