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Gold price continues to fall at Iran's free market

Business Materials 12 February 2013 15:28 (UTC +04:00)

Azerbaijan, Baku, Feb.12/ Trend F.Milad

Each Azadi gold coin was sold at the price of 14.35 million rials on Iran's free market on Tuesday. This is while the price of gold coin stood at 14.7 million rials on Monday.

The US dollar was also sold at the price of 37,500 rials on the free market on Tuesday, whilst the euro was presented at a price of 50,500 rials.

Euros and US dollars were traded at the prices of 51,000 and 38,000 rials on Monday.

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

Critics believe the Iranian government is not controlling the price of 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.

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