Report: Iran's finance minister says currency market will stabilize after recent fluctuations

Iran's official IRNA news agency is reporting that the country's finance minister predicts the currency markets will stabilize soon.

The Monday report quotes Ali Tayyebnia as saying there have been no basic changes in either the Iranian foreign exchange or investment markets and that he expects the "creation of a stable situation" in the markets soon.

The remarks came following a more than 5-percent hike in prices of foreign currencies in less than a week. On Tuesday the U.S. dollar was selling for 34,400 rials, up from 32,650 one week earlier.

The hikes came after Iran and the major global powers agreed last Monday to extend nuclear talks aimed at a final deal by July 2015; it also coincides with a plunge in oil prices.