Dollar, gold fall slightly in Iran market after presidential elections
The price of gold and US dollar has fallen slightly in the Iranian market after results of the country’s presidential elections showed that Masoud Pezeshkian, who pledged in his campaign to fix Iran’s economy by opening up to the world, had won the votes.
Two reports published on Saturday by the semi-official ISNA news agency showed that the price of the US dollar in Iran had fallen by more than 6% compared to before the Friday elections to 580,000 rials.
The reports showed that the price of Bahar-e-Azadi gold coin had also dropped by 2.5% compared to Thursday to 415 million rials on Saturday.
Currency prices were reported from the unofficial market in Tehran. The Iranian government maintains a price of 285,000 rials for the US dollar which it applies to imports of basic goods and equipment.
The fall in the price of the gold in Iran came despite a $27 per ounce rise in the global prices of the metal compared to Friday.
That came after Pezeshkian secured nearly 16.4 million votes to win the run-off presidential election in Iran.
The 69-year-old cardiac surgeon and parliament lawmaker is known as a moderate politician who believes better relations with the world can ease the pressure of US sanctions from Iran’s economy.
During his campaign, Pezeshkian vowed to work to restore Iran’s 2015 nuclear deal with world powers some six years after the US pulled out of the deal and imposed sanctions on Iran.
That comes as his rival, Saeid Jalili, who won more than 15.5 votes in the Friday election, opposed Pezeshkian’s views by saying that Iran should continue to resist US sanctions and rely more on domestic resources of the economy.
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