CBI launched several gold coin auctions at base prices lower than the market rate in the past weeks to forestall a flight of capital to the gold market in the wake of bank interest rate cuts. While denting the coin’s historic bubble, the rally seems to be far from cooling off. CBI is wary of the rising inflation in the wake of a liquidity surge. In the currency market, the rial was quoted at 41,820 to the dollar, weakening slightly from a day ago.
Source: Financial Tribune