Speculation is growing that the Central Bank will announce a significant “adjustment” of the official exchange rate, which is currently 12,260 Rials to the US dollar. Observers such as the head of Bank Tejarat are predicting a new rate between 15,000:1 and 16,000:1. This would still leave a gap of 35-40% between the official rate and the open-market rate of 21,300:1.
Rial keeps falling; another 3% on August 7; now at 21,930:1 vs. the US dollar
- Published: 315 days ago on Wednesday, 8 August 2012
- By: Iran Daily Brief
- Last Modified: August 8, 2012 @ 3:07 pm
- Filed Under: Economy
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