...

US dollar gains value against Iranian rial

Business Materials 26 August 2015 17:59 (UTC +04:00)

Tehran, Iran, Aug. 26

By Temkin Jafarov, Khalid Kazimov - Trend:

The US dollar surged 650 rials to hit 34,000 rials in the Iranian free market.

The US dollar has been on the rise since three days ago, rising from 33,500 rials yesterday to 34,000 today, which is the highest on record in the past six months, Trend reported from Tehran August 26.

Also, the Central Bank of Iran raised the official dollar rate by 340 rials, setting the price at 29,890 rials‫.

The official price of dollar has increased 3,400 rials in Iran in the past year.

Right now, the difference between the official and free rates is 11.6 percent, about 3,500 rials, which is the least difference on record since the Iranian government launched the Center for Currency Exchange.

This, according to Central Bank of Iran Governer Valiollah Seif, opens the way for fixing the dollar price, a plan long discussed by the Iranian government.

Seif has said that six months after Iran's recent nuclear deal is implemented, which leads to the removal of economic sanctions on Iran, currency rates will be fixed.

Edited by CN

Latest

Latest