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Gold price falls at Iran's free market

Business Materials 2 February 2013 15:09 (UTC +04:00)

Azerbaijan, Baku, Feb.2/ Trend F.Milad‎‏

Each Azadi gold coin was sold at 15.38 million rials on Saturday.

It is while the price of gold coin stood at 15.60 million rials on Thursday.

US dollar was sold at the price of 39,800 rials at the free market on Saturday, while Euro was presented at the price of 53,700 rials.

Euro and US dollar were traded at the prices of 51,700 and 39,600, 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 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.

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