Euro price nears 50,000 rials in Iran free market

Business Materials 30 January 2013 14:47 (UTC +04:00)

Azerbaijan, Baku, Jan.30 / Trend F.Milad /

Euro was sold at the price of 49,600 rials at the free market on Wednesday, while Us dollar was presented at the price of 37,300 rials.

Euro and US dollar were traded at the prices of 49,000 and 36,900, respectively on Monday.

There was no trade at the free market on Tuesday.

Each Azadi gold coin was also sold at 14.75 million rials on Wednesday.

It is while the price of gold coin stood at 14.67 million rials on Monday.

The government has set the 28,500 rials price for the free market but the brokers refuse to trade dollar at the mentioned price.

Dollar price had reached 40,000 rials in October but by inauguration of the foreign exchange center the prices fell to 27,000 rials.

Critics believe that Iranian government is not controlling the price of dollar at the free market on purpose.

They claim that the government wants to take advantage of selling dollar at 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.