U.S. dollar at all-time high on Iranian black market
TEHRAN, May 30 (AFP) - The US dollar reached a new high on the Iranian
black market Sunday against the national currency, the rial.
The dollar rose from 8,300 to 8,700 rials early Sunday on the clandestine
market.
The official rate has been 3,000 rials to the dollar since May 1995.
The dollar's rise was triggered by increased demand by Iranians travelling
abroad during the summer, experts said.
The Iranian government decided in May 1995 to freeze the exchange rate
in order to stop the flight of capital and stabilize the rial.
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