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Gold and currency are rising in price in Iran
- Details
- Category: Actual
- Published on Saturday, 11 June 2011 18:57
- Hits: 1163
The different currencies and gold have risen in price in Iran. Though the Iranian Central Bank keeps under control the price of dollar and gold, their price is rising in black market day by day. Finally, not being able to keep stabile the official prices, the Central Bank raised the price of gold and foreign exchange. According to the in formation given by the Iranian press, the price of dollar has risen in the country markets from 11.200 riyals up to 12.150 riyals within the last one week and by the information this rise is going up. If the previous official price of dollar was 10.599 riyals, now raising the rate of exchange 12 percents the central bank has begun to sell 1 US dollar for 11.717 riyals.
In spite of this rise in price, to buy dollar from the banks by the official prices is possible just by some restraint, but it is possible to get as many dollars by free prices in the open markets. The currency exchange offices, operating by statutory license refused to sell currency by the official prices yesterday. They explain its reason by not buying currency from the central bank by the official prices.
Some days ago Mahmud Bahmani, the chairman of the Iranian Central Bank said that there were as many currency resources in Iran and it would be possible to prevent the rise in price by giving the additional currency to the market in case of rise in price. But now, raising prices by the Central bank created confusion among the people.
By the new information, the price of gold has risen 8 percents in the Iranian jewelry market. It is observed the inflation of more than 20 percents in the national economy in connection with stopping the subsidies in Iran recently. Because of it, the people use capital in investing like gold and currency, which are not exposed to inflation and could be transferred to money anytime. And it causes the rise of gold and currency price in the country.
