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| Iran inaugurates new currency trading center |
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 TEHRAN — Iran has inaugurated a new hard currency trading center to undercut the black market.
Under the supervision of Iran’s central bank, the center will offer U.S. dollars at 2 percent less than the street rate to importers of the country’s needs, from the veterinary industry to printing machines, according to the Sunday report.
The U.S. dollar is traded at 24,600 rials in the street market. But the current official rate is 12,260 rials to the dollar, used only for special purposes such as importing food and medicines.
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| Last Updated on 23 September 2012 16:22 |