Gold price falls on Iran's free market
Azerbaijan, Baku, Feb.6/ Trend F.Milad /
Each Azadi gold coin was sold at the price of 14.68 million rials on Iran's free market on Wednesday. This is while the price of gold coin stood at 15.45 million rials on Tuesday.
The US dollar was also sold at the price of 37,800 rials on the free market on Wednesday, while the euro was presented at the price of 51,500 rials.
The euro and US dollar were traded at the prices of 52,700 and 39,000 rials on Tuesday.
The government has set a 28,500 rials price for the free market, but the brokers refuse to trade the dollar at that 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 that 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.