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Iranian Central Bank official: No more gold coins to be pre-sold

Business Materials 27 July 2012 15:03 (UTC +04:00)
There will be no more pre-sales of gold coins by the Central Bank of Iran (CBI) given their plentiful supply in the market.
Iranian Central Bank official: No more gold coins to be pre-sold

Azerbaijan, Baku, July 25/ Trend M. Moezzi

There will be no more pre-sales of gold coins by the Central Bank of Iran (CBI) given their plentiful supply in the market.

Peyman Ghorbani, CBI Director of Economic Surveys and Policies, told the Iranian Students' News Agency (ISNA) that there's no need for the Bank to sell more gold coins with 9.3 million of them pre-sold and 6 million of them delivered to their buyers.

Those sales have doubled since 2011.

Those who've bought the gold coins will begin selling them on the market over time.

Ghorbani said the most reasonable thing for those Iranians having money for investment is to deposit it in banks.

Iranians rushed to buy gold coins and foreign currency starting last winter when Iran's currency, the rial began to devaluate and international sanctions against Iran began to ratchet up.

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