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Gold price rises at Iran's free market

Business Materials 23 February 2013 15:10 (UTC +04:00)

Azerbaijan, Baku, Feb.23/ Trend F.Milad‎‏

Each Azadi gold coin was sold at the price of 14.15 million rials at Iran's free market on Saturday.

It is while the price of gold coin stood at 13.98 million rials on Thursday.

US dollar was also sold at the price of 37,100 rials at the free market on Saturday, while Euro was presented at the price of 49,200 rials.

Euro and US dollar were traded at the prices of 48,700 and 36,900 rials on Thursday.

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

Critics believe that Iran's 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 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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