USD, Gold coin prices continue to fall at Iran’s free market

Business Materials 10 March 2013 12:03 (UTC +04:00)

Azerbaijan, Baku, Mar.10/ Trend F.Milad‎‏

Each Bahar-e Azadi gold coin was sold at the price of 13.40 million rials at Iran's free market on Sunday.

It is while the price of gold coin stood at 13.50 million rials on Saturday.

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 34,800 rials at the free market on Saturday, while Euro was presented at the price of 45,500 rials.

Euro and US dollar were traded at the prices of 46,700 and 35,300 rials, respectively on Saturday.

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 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 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.