The prices of gold and foreign currency has reached an all-time high

Details

Category: Special

Published on Thursday, 19 January 2012 15:18

Hits: 83

While the problems are continuing between the Iranian president Mahmud Ahmadinejad and the Iranian Central Banks head Mahmud Bahmani, the price of dollar and gold has reached an al-time high. Price of gold currency is 8.000.000 rials, and one US dollar is sold for 18.200 rials. According to the information of ISNA, the price of gold currency was 6.500.000 rials at the beginning of this week.

By the opinion of the experts, increase of prices of gold in the world markets and currency in Iran, as well as disagreeing by Ahmadinejad with growing bank interests have influenced seriously on the prices of gold and currency.

Actually the price of gold and currency has been increasing fast in the Iranian markets during last two months. Many experts connect it with intensifying the sanctions against Iran. And interventions of the government haven’t had any effect up to now.

Slump in prices of rial in Iran may result in rising in price of the goods imported from abroad. As the government is the greatest source providing gold and foreign currency, it may derive benefit from rising in prices, the Iranian press states. To note, as the deputies state, the government has a deficit of 30 billion dollar in the budget of “the current solar year”.

But the process has another side too. Exchange crisis leads to decline in living standards of the middle class, rising in price of essential goods and reduction of real possibilities of subsidy payout. And the main reason of it is exposing the country to the sanctions by the Iranian politicians by failure to the international commitments in the field of nuclear researches. The mentioned politicians are responsible for corruption cases in the bank system of the country, bringing economy into a ruined state and favoring the regime’s interests over the people’s interests.

On the other hand, the Iranian authorities have been struggling for own ambitions, power and wealth for a long time, instead of thinking about well-being of the nation. It is possible to be noticed in the statements of Ahmadinejad concerning the process. For example, on the days when the subject was more actual, in the programs broadcasted by television Ahmadinejad was trying to convince the people of stability of economy and spreading the rumors about economic lag. “We don’t’ feel any special problem”, he said.

In general, slump in prices of rial is an additional demonstration of a bad state of economical management in Iran and the inevitable inflation.

• < Prev
• Next >