Minister: gold coin, dollar rate to drop

TEHRAN, Oct. 02 (MNA) – Interior Minister Abdolreza Rahmani Fazli said on Tuesday effective decisions have been made to alleviate the foreign currency and gold coin market.

“Crucial decisions have been made in the Supreme Council of Economic Coordination, a joint meeting attended by the heads of the three branches of power, and we will observe a decreasing trend in gold coin and forex rates [in the coming days],” Rahmani Fazli added.

He made the statement during the first session of State Economic Information and Advertising Board. He was appointed as the head of the board by President Hassan Rouhani last week.

Iranian rial has been on a falling trend in the past weeks. The national currency plunged to the record low of 192,000 on the unofficial market against one dollar last week.

However, the rial regained some of its previously lost value after the Central Bank of Iran announced new policies to manage the market. Many people came to sell their dollar banknotes which in turn resulted in further depreciation of foreign currencies, most notably US dollar, against the rial.

There is no confirmed news over the matter, however, reportedly the price of US dollar, went down as low as 15,000 rials on Today before noon.

MR/4418275

News Code 138276

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