Forex, gold coin prices continue to fall at Iran’s free market

Business Materials 23 November 2013 14:27 (UTC +04:00)

Baku, Azerbaijan, Nov. 23
By Rahim Zamanov - Trend:

Each Bahar-e Azadi gold coin was sold at the price of 880,000 rials at Iran's free market on Nov.23.

Each Bahar-e Azadi gold coin was presented at the price of 899,000 rials on Nov.21.

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

Last week the price of gold coin at Iran's free market dropped to its lowest point in the past 14 months.

U.S. dollar was also sold at the price of 29,980 rials at the free market on Nov.21, while Euro was presented at the price of 40,600 rials.

U.S. dollar and euro were traded at the prices of 30,100 and 40,700 rials on Nov.21.

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 the 28,500 rials price for the free market but the ‎brokers refuse to trade dollar at the mentioned price.