USD price reaches 36,300 rials on Iran's free market
Azerbaijan, Baku, Jan.22 / Trend F.Milad /
The US dollar was sold at a price of 36,300 rials on the free market on Tuesday with the euro being sold at 47, 500 rials.
The US dollar and euro were traded at prices of 35,500 and 46,000, respectively on Monday.
Each Azadi gold coin price eased a little on Tuesday to reach 14.6 million rials. This is while the price of gold coin stood at 15.5 million rials on Monday.
This comes as Iran's Supreme Audit Court voted to dismiss Central Bank Governor Mahmoud Bahmani on a charge of illegal drawing out money from the banking system last year, the Mehr News Agency reported.
Iranian media outlets reported earlier that Bahmani officially requested early retirement and sent a letter to the president's office regarding his request. The request reportedly was denied by Ahmadinejad's office.
After the news hit the papers foreign currency prices jumped up in Iran.
The government has set the 28,500 rials price for the free market, but brokers refuse to trade the dollar at the aforementioned price.
The dollar price had reached 40,000 rials in October, but by inauguration of the foreign exchange centre prices fell to 27,000 rials.
Critics believe the Iranian government is not controlling the price of the dollar on the free market on purpose. They claim the government wants to take advantage of selling the dollar on the free market in order to compensate its lack of budget.
The government maintains an official reference rate of 12,260 rials to the dollar, but only a limited amount of foreign exchange is available at this rate.