VOL. XLI
No. 36
7-September-1998
IRAN
Value Of Iranian Rial Slides On Tehran Free Market
The value of the Iranian rial in the past month has declined by almost 9% against theUS dollar in the free foreign exchange market as a result of high demand. According totraders the decline in the free market rate from around $1=IR5,600 to $1=IR6,100 isattributed to high forex demand by Iranians taking overseas holidays and by traders inneed of hard currency during last month's carpet exhibition in Tehran...
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