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USD, euro and pound rise at Tehran Forex Center

Business Materials 17 August 2013 17:30 (UTC +04:00)

Azerbaijan, Baku, Aug.17 /Trend F.Karimov/

U.S. dollar, euro and British pound rose against Iranian rial today at the Tehran Forex Center compared to Thursday, the Mehr News Agency reported.

U.S. dollar was sold at the price of 24,794 rials at Iran's Forex Center, compared to 24,793 rials on Thursday.

Euro was also presented at the price of 33,044 rials, while British pound was traded at 38,732 rials, compared with 32,879 rials and 38,292 rials, respectively.

Iran's foreign exchange center was officially inaugurated on September 24, 2012.

The rial is currently trading for about 32,000 to the dollar in the open market.

On July 6, the central bank of Iran on its website listed the price of a dollar at 24,779 rials. That rate replaced the previous official "reference" rate of 12,260 rials to the dollar.

Since January 2012, the Iranian government had maintained a subsidized rate of 12,260 rials to the dollar, meant to be used for importing the most vital goods such as food and medicine.

Iranian new president Hassan Rohani, who succeeded former President Mahmoud Ahmadinejad, said that he seeks to revive Iran's economy by improving relations with the world and seeking relief from economic and financial sanctions.

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