Azerbaijan, Baku, Oct.30/ Trend F.Milad/
The U.S. dollar was sold at the price of 25,276 rials on Iran's foreign exchange centre on Tuesday. The Euro was also traded at 32,628 rials, the Mehr News Agency reported.
The US dollar and Euro were both traded at the price of 25,355 and 32,788 rials, respectively on Monday.
The government has set a 28,500 rials price for the free market, but the brokers still refuse to trade dollar at the mentioned price.
The U.S. dollar was sold at below 33,000 rials in Iran's free market on Sunday, a sharp decline compared to prices last week, the Mehr News Agency reported.
The Euro and pound sterling were also traded at 43,000 rials and 53,000 rials respectively.
According to reports businessmen are unhappy about the performance of the administration in regulating the foreign exchange market, saying it has caused instability in prices.
The new foreign exchange centre was officially inaugurated on September 24 and some 1000 applications have been registered at the centre.
The new centre allows importers of goods including truck tyres, construction equipment and synthetic fibres to buy dollars at a rate of two per cent cheaper than the street rate at any given time.
The government maintains an official reference rate of 12,260 rials to the dollar, but only a limited amount of foreign exchange is available at this rate.
The Iranian government plans to use revenues from petrochemical sales and 14.5 per cent of its oil revenue to provide dollars for the centre, Central Bank Governor Mahmoud Bahmani said in September. He did not give an absolute figure for the amount of dollars to be supplied.
"With the distribution of currency at this centre, the exchange rate in the market will go down because some of the demand (for dollars) will be met at this centre and the pressure of demand will be removed," Bahmani was quoted as saying.