Azerbaijan, Baku, Nov.6/ Trend F.Milad/
Foreign currency prices keeps falling at Iran's foreign exchange centre, as the U.S. dollar was sold at the price of 24,955 rials, with the Euro selling at 31,935 rials, the Mehr News Agency reported.
On Monday, the US dollar and Euro were traded at the price of 25,105 and 32,198 rials, respectively.
The government has set the 28,500 rials price for the free market, but brokers still refuse to trade the dollar at the aforementioned price.
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 revenues 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 the centre and the pressure of demand will be removed," Bahmani was quoted as saying.