USD, gold coin prices rise again on Iran’s free market

Business Materials 6 March 2013 14:38 (UTC +04:00)

Azerbaijan, Baku, Mar.6/ Trend F.Milad

Each Bahar-e Azadi gold coin was sold at the price of 13.62 million rials on Iran's free market on Wednesday. The price of gold coin stood at 13.17 million rials on Tuesday.
The Bahar-e Azadi coin is an Iranian limited circulation minted gold coin offered by the Central Bank of Iran (CBI).

The US dollar was also sold at the price of 35,100 rials on the free market on Wednesday, while the euro was presented at the price of 46,000 rials.

The euro and US dollar were traded at the prices of 44,000 and 33,100 rials, respectively on Tuesday.

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

Critics believe that 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.