Worldbulletin News

Worldbulletin News Worldbulletin News Portal


17:45, 21 December 2014 Sunday
Update: 14:29, 06 August 2012 Monday

  • Share
Iran rial sinks 5 pct vs dlr as devaluation expected
Iran rial sinks 5 pct vs dlr as devaluation expected

The rial was trading in the free market at around 21,510 per dollar, according to Persian-language currency tracking website Mazanex, down from about 20,440 on Sunday.

World Bulletin / News Desk

Iran's rial sank about 5 percent in trading against the U.S. dollar on Monday after the central bank said it would change the currency's official exchange rate, prompting fears of another devaluation.

The rial was trading in the free market at around 21,510 per dollar, according to Persian-language currency tracking website Mazanex, down from about 20,440 on Sunday.

Central bank governor Mahmoud Bahmani said on Sunday he would announce a change to the government's "reference rate" of 12,260 rials to the dollar "within the next 10 days", Iranian media reported.

Iranian media speculated that the new reference rate might be between 15,000 and 16,000 rials.

Most Iranians are unable to obtain dollars at the official rate and must instead use the free market, which is much more expensive.



Legal Notice: Copyright, trade marks and other intellectual property rights in this website can not be reproduced without the prior permission.

  • Share


Most Read



Yandex.Metrica