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Gold coin and FOREX prices continue to fall in Iran

Iran Materials 2 October 2013 16:40 (UTC +04:00)

Azerbaijan, Baku, Oct.2/ Trend, R. Zamanov

Each Bahar-e Azadi gold coin was sold at the price of 960,000 rials on Iran's free market on Wednesday.

Each Bahar-e Azadi gold coin was presented at the price of 970,000 rials on Tuesday, the ISNA News Agency reported.

The Bahar-e Azadi Coin is an Iranian limited circulation minted gold coin offered by the Central Bank of Iran (CBI).

The US dollar was also sold at the price of 30,500 rials on the free market on Wednesday, while the Euro was presented at the price of 40,900 rials.

The U.S. dollar and Euro were traded at the prices of 30,500, and 41,200 rials on Tuesday.

Iran's national currency, the rial, lost about 50 percent of its foreign exchange value in less than a week in October 2012, standing at 35,500 versus the dollar. It was close to 10,000 in early 2011.

The government set a 28,500 rial price for the dollar on the free market, but brokers refuse to trade it at the mentioned price.

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