Bloomberg News

Iran Central Bank Says Dollar Gain Psychological, Shargh Reports

June 28, 2012

Iran Central Bank Governor Mahmoud Bahmani urged Iranians not be influenced by the psychological atmosphere that has resulted in a recent increase in the dollar’s value, Shargh reported.

Fluctuations in the market are mostly due to psychological factors connected to political events and are not related to changes in the supply and demand of the U.S. currency inside Iran, Bahmani said, according to the Tehran-based newspaper.

The dollar’s value has risen this month, selling over the past week for about 19,000 rials on the open market, the report said. The dollar was sold on the open market for 19,210 rials yesterday, it said.

To contact the reporter on this story: Ladane Nasseri in Dubai at lnasseri@bloomberg.net

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net


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