In the black market, $1 is worth about 115,000 - 118,000
rials, while 1 euro is worth about 130,000 - 133,000
rials.
TEHRAN -- The Iranian government on Wednesday approved a plan to slash four zeros from the national currency
rial, in a move seen by experts as 'too simplistic'.
Fifth issue : Banknotes issued 50
rials, 20
rials, 10
rials and 5
rials, issued before November 1, 1995, which do not have the shiny holographic security strip on their front side will not be legal tender.
While the
rial has strengthened against the dollar on the open market, it has weakened against the dollar on NIMA.
For the first time, motorists who neglect warnings to avoid wadis during heavy rain will face up to three months in jail apart from a fine of 500
rials.
The former monopoly made a net profit of 34.8mn
rials in the three months to March 31, it said in a statement.
The report also noted that the money supply declined 45 billion
rials in August to reach 3.133 trillion
rials.
Net loans and advances grew 17.4pc to 2.01 billion
rials from 1.71bn
rials at the same point last year.
According to different websites, including Mazenne, which monitors foreign currency prices, the US dollar dropped 150
rials compared to Sunday and was sold at 29,150
rials.
The lender made a second-quarter net profit of 10.17 million
rials ($26.4 million) compared with 10.3 million
rials in the corresponding period in 2012.
In addition, during the month of June, the Iranian Central Bank eliminated the subsidized rate of 12,260
Rials to the dollar and stated that the only official rate would be the one of 24,779
Rials.
"Last year we created 36,000 jobs for Omanis by spending 300 million
rials ($780 million)," he said.
In Teheran's money changing district, licensed bureaux were doing no business at the rate of 28,500
rials to the dollar imposed since Saturday by the central bank in an effort to reverse a collapse of the money last week.
