Tuesday, February 15, 2011

CBI Insists on Official Exchange Rate

The Central Bank of Iran (CBI) today warned Tehran’s foreign exchange markets not to sell US dollar higher than the official rate of 1040 toumans per dollar. This week, the rate at forex markets has climbed to 1095 toumans, more than 5 percent higher than the official rate. Forex traders insist that they are still offering $2,000 to each customer at the official rate, but if any customer wants to purchase beyond the $2,000 limit set by the CBI, they need to pay at the less restricted higher rates.

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