• 24 July 2017 - 08:36
  • News Code: 72702
پوند انگلیس

The official rate of the Great Britain Pound, GBP, in the Iranian exchange market has witnessed a significant growth of up to 1,300 rials in a matter of one month.

The rate in the free market, after a hike of 6,900 rials, is now bordering 50,000 rials.

The estimated figure set by the Central Bank in late June had been 41,157, but it jumped to 42,461 on Saturday, marking a 1,304-rial growth in a matter of one month. A similar hike was seen in the free market, where the rate is now standing at 49,130, close to hitting the 50,000 mark.

The rates of major international currencies, the dollar, the pound and the euro, have always been of significant impact upon the Iranian economy in the past several years. Given the limitations imposed by Western sanctions on Iran’s Central Bank and the economic sector as a whole, the government has been increasingly pushed toward the euro and the GBP as an alternative to the dollar.

The GBP, therefore, has found more room in the Iranian exchange basket. Nevertheless, it has seen fluctuations in recent months in the wake of Britain’s planned exit from the European Union. The instability in pound rates at international exchanges, therefore, has also affected the Iranian market.

All in all, observers believe that the recent pattern in currency rates in the Iranian market is indicative of the Central Bank’s ambitious plan to homogenize the two-rate system and unify it into one, in which the official and the free market levels are equalized. The Central Bank has announced that preparations to launch the project have already been laid out.


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