USD sold at 29,180 rials at Iran's free market

Business Materials 5 December 2012 10:05 (UTC +04:00)

Azerbaijan, Baku, Dec.5 /Trend F.Milad/

U.S. dollar was sold at the price of 29,180 rials, and Euro was sold for 38,600 rials at Iran's free market on Tuesday, the Mehr News Agency reported.

It is while Dollar and Euro were traded at the prices of 24,570 and 32,087 rials, respectively at Iran's forex center on Tuesday.

Each Azadi gold coin was also sold at the price of 11.78 million rials in the free market. Each ounce of gold was priced at $1707 in international markets on Tuesday.

In early October, gold prices rallied to nearly $1,800 an ounce after the US Federal Reserve announced new monetary stimulus measures, which tend to help gold by fuelling fears of inflation and maintaining pressure on interest rates.

The Iranian government maintains an official reference rate of 12,260 rials to the dollar, but only a limited amount of foreign exchange is available at this rate.