US dollar, euro rise in Iran’s free market
Baku, Azerbaijan, Nov.28
By Fatih Karimov - Trend:
US dollar and euro rose on Nov. 27 at Iran's free market.
US dollar exchange rate rose by 150 rials and hit 33,100 rials. Euro also rose to 41,650 rials, Iran's Fars news agency reported on November 27.
The rise in the exchange rate of foreign currencies at Iran's free market comes as Iran and the P5+1 group agreed to extend nuclear talks until July 1, 2015 after failing to meet the 24 Nov. deadline to reach a comprehensive nuclear agreement.
The sides also extended the Geneva nuclear deal, which was signed last November for providing Iran with some sanctions relief in exchange for Tehran agreeing to limit certain aspects of its nuclear activities.
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.