Gold coin price falls on Iranian free market
Azerbaijan, Baku, Mar.13/ Trend, F. Milad
Each Bahar-e Azadi gold coin was sold at the price of 13.55 million Rials on Iran's free market on Wednesday.
Each Bahar-e Azadi gold coin was presented at the price of 13.60 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 sold at the price of 34,400 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 46,500 and 35,000 Rials respectively on Tuesday.
The government has set a 28,500 Rial price for the dollar on the free market, but brokers refuse to trade on it.
Critics believe that the Iranian government is not controlling the price of the dollar on the free market on purpose. They claim that the government wants to take advantage of selling dollars on the free market in order to compensate for its lack of a 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.