TEHRAN, Iran, Nov.11
Trend:
It is expected that t he decline of the USD rate on Iran's foreign currency market would trigger the decreae of prices on the local gold and housing markets, as well as regarding other commodities and services, said the Minister of Road and Urban Development Mohammad Eslami, Trend report citing ILNA.
"The price of gold and foreign currency rate have always affected the commodity and services, the society expects the bubble of high commodity rates to burst, so they could witness real prices," he said.
"The increase of prices in the housing market, commodities and services was due to high foreign currency rat and did not relate to volume of supply and demand, now that foreign currency has declined the overpriced rates should be cut," he said.
As for the housing market, Eslami said it will take time for the prices in this sector to decrease.
"The price of flight tickets was based on NIMA system that is 110,000 rials per USD, and we have asked the officials of airlines and National Aviation Organization to not react with excitement towards the changes," he said.