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USD keeps falling on Iran's Forex Centre

Business Materials 23 November 2012 14:37 (UTC +04:00)

Azerbaijan, Baku, Nov.23/ Trend F.Milad/

The U.S. dollar was sold at the price of 24,584 rials on Iran's Forex Centre on Thursday. The euro was also presented at 31,572 rials, the ISNA News Agency reported.

The new foreign exchange centre was officially inaugurated on September 24 and some 86,000 applications have been registered.

The new centre allows importers of goods including truck tyres, construction equipment and synthetic fibres to buy dollars at a rate 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.

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