Iranian govt. to let free-market trading in US dollar

TEHRAN, Jun. 25 (MNA) – The Chairman of the Central Bank of Iran (CBI) said Mon. the government has accepted 20% trading of Iranian national currency the Rial against the USD in the free market after the plunge of the Rial recently.

The CBI chief Valiollah Seif told reporters this morning after a meeting with the Parliament’s Economic Commission that the government has agreed to let the importers and exporters reach a negotiable price for the Rial against the US dollar in the free market and from now on, 20% trading in the US dollar in the free market and would be allowed between the traders in currency exchange shops. 

Prior to this, the government had banned free-market trading in the US dollar and had set a unified 42,000 Rails for the price of each dollar.

This government’s move comes after the plunge of the Rial against foreign currencies, most notably the US dollar, during the past few days, which dropped to a record 87,000 low against the US dollar in the free market yesterday afternoon.

KI/4329870

News Code 135105

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