Forex, gold coin prices rise on Iran’s free market after 2 day fall

Business Materials 26 November 2013 20:34 (UTC +04:00)

Baku, Azerbaijan, Nov. 26

By Rahim Zamanov - Trend:

Each Bahar-e Azadi gold coin was sold at 865,000 rials on Iran's free market on Tuesday.
Each Bahar-e Azadi gold coin was presented at the price of 830,000 rials on Monday, the IRNA 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 U.S. dollar was also sold at the price of 29,150 rials at the free market on Tuesday, while the Euro was presented at 39,500 rials.

The U.S. dollar and euro were traded at the prices of 28,900, and 39,200 rials on Monday.

The rise in prices comes after two consecutive days of decline.

Deal on the Iranian nuclear program between Iran and the P5+1 on Sunday and the society's optimistic mood had a temporary influence on the market, causing the prices to drop sharply, but the falling trend has not continued.

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