Azerbaijan, Baku, July 2/Trend M. Moezzi
While acknowledging the big difference between Iran's official rate for the dollar and what the currency costs in free markets, the country's Central Bank chief said no action will be taken.
Mahmoud Bahmani admitted the 7000 rial gap between the dollar's official rate and how much currency traders are selling it for isn't 'logical' and shouldn't be so great, the Iranian Students' News Agency (ISNA) reported.
However Mr Bahmani said the Central Bank won't be changing the dollar's official rate.
Iran's government has set the official exchange rate at 12,260 rials to the dollar. Yesterday, the dollar cost 19,700 rials on the country's currency markets.
Economists and active players in Iran's economy have repeatedly expressed their worries about the gap between the dollar's official and market rate saying it creates an opportunity for exploitation.
