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Gold price increases in Tehran

Business Materials 8 October 2011 18:54 (UTC +04:00)

Azerbaijan, Baku, Oct. 8 /Trend A. Gurbanova/

The price of gold coin increased in foreign independent exchange market while the USD exchange rate climbed, Mehr News Agency reported.

The USD exchange rate increased in foreign independent exchange market to 12,440 rials while the Central Bank of Iran reduced the price to 10,640 rials.

The euro rate was traded 16,800 rials foreign independent exchange market while the official price declined 14,230 rials.

The price of gold coin also increased to 5.70 million rials (about $510).

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

The Central Bank of Iran began to reduce USD exchange rate to maintain the prices, but the gap between independent foreign exchange market and official USD rate increased while current fluctuation in global market shadowed Iranian gold market.

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