A new official price for the US dollar has been discovered in an exchange market run by the Central Bank of Iran (CBI).
The Central Bank of Iran (CBI) is planning to launch a new currency exchange market in a bid to control the prices and to make it easier for importers to access hard currency generated from exports.
The administrative government in Iran has introduced a bill in parliament to remove a heavily subsidized exchange rate which is used to fund imports of staples and medicine into the country.
The government will put on end to paying subsidized foreign currency to import pharmaceuticals, the health minister said.