This image will be automatically disabled when it gets reported by several people.
Iran inaugurates new currency trading centre New centre will offer US dollars at 2 pct less than street rate to vital importers, says Iranian state radio
Iran's state radio is reporting that the country has inaugurated a new hard currency trading centre to undercut the black market. Under the supervision of Iran's central bank, the centre will offer U.S. dollars at 2 per cent 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 US 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. Iranian currency has been heavily hit by Western sanctions over Iran's nuclear program. The West suspects Iran is aiming to build nuclear weapons, a charge Iran denies.