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Gold coin prices fall on Iran’s free market

Business Materials 2 December 2013 13:38

Baku, Azerbaijan, Dec. 2

By Rahim Zamanov - Trend:

Each Bahar-e Azadi gold coin was sold at the price of 870,000 rials on Iran's free market on Monday.

The Bahar-e Azadi gold coin was presented at the price of 880,000 rials on Sunday.

Bahar-e Azadi Coins are Iranian limited circulation minted gold coins offered by the Central Bank of Iran (CBI).

The U.S. dollar was also sold at the price of 29,550 rials on the free market on Monday, while the euro was presented at the price of 40,100 rials.

U.S. dollars and euros were traded at the prices of 29,650, and 40,200 rials on Sunday.

Iran's national currency the rial, lost about 50 per cent 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 a 28,500 rials price for the free market, but ‎brokers refuse to trade dollars at that price.

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