Iranian Rial Updates February 2016

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Don't think that the Iranian Currency will revalue (RV) anytime soon just because economic sanctions have ended. Iranian rial joined the list of prohibited currencies in the holy sites during the current Umrah season, when the owners of shops, banking in Mecca attributed to the absence of Iranian pilgrims until these days.

The list of non-traded currencies in the exchange houses in Mecca limited to the Syrian pound and the Yemeni riyal during the last Haj season because of political events in both countries, joined them Iranian currency. He attributed Sheikh cashiers in Mecca Mltani not just trading the Iranian rial to the absence of pilgrims from Iran so far, in addition to that traded during the past two years it was very simple and limited rates on pilgrims Iranians only, according to the newspaper "Life".

He Mltani to turn to exchange houses rates in Mecca during the current Umrah season, who is suffering from a decline in its rates by an average of about 5 percent, attributed to the fact that "the main reason for the decline in the size of demand for exchange houses due to a decrease in the number of pilgrims year, which is due to the economic crisis, in addition to the low prices of currencies in general. "

Pointing out that there is a significant decline in the disbursement of a number of currencies, it comes at the forefront "of the Egyptian pound," which dropped its price in exchange houses in Mecca to 42 halalas (a hundred pounds equivalent to 42 rials), while the official rate of exchange 48 riyals per hundred fairy. Mltani He added that "most of the currencies decline in the price at the moment is the British pound, which came down its exchange rate to 5.4 riyals per pound, in addition to the euro, which has become the exchange rate only 4 riyals per euro."

And the most actively traded in the season Currency said that "most currencies traded in the Hajj and Umrah dollar season, which comes in first place in terms of operations of the switch, especially that the majority of pilgrims alike and all countries of the world use the dollar in the first instance, followed by the euro."

Sheikh cashiers pointed out that "the dollar traded ratios stood at 40 percent against other currencies, the euro, followed by about 20 percent, and finally the British pound at a rate of 6 percent."

He attributed Mltani rise in the US currency was trading size that most pilgrims prefer to come to Saudi Arabia, along with foreign currencies, particularly the dollar because the exchange rate Tabut against the Saudi riyal, adding that "next dollar pilgrims used the euro and the pound sterling, except pilgrims East Asia, who prefer to use local currencies do not replace the Saudi currency, both during the days of Hajj and Umrah in Mecca, or when visiting the Prophet's mosque in Medina. " More Arabia News