USD, gold coin price fall at Iran’s free market

Business Materials 9 March 2013 16:46 (UTC +04:00)

Azerbaijan, Baku, Mar.9/ Trend F.Milad‎‏

Each Bahar-e Azadi gold coin was sold at the price of 13.50 million rials at Iran's free market on Saturday.

It is while the price of gold coin stood at 13.80 million rials on Thursday.

Bahar-e Azadi Coin is an Iranian limited circulation minted gold coin offered by the Central Bank of Iran (CBI).

US dollar was also sold at the price of 35,300 rials at the free market on Saturday, while Euro was presented at the price of 46,700 rials.

Euro and US dollar were traded at the prices of 47,000 and 36,000 rials, respectively 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 the 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 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.