Gold coin, forex prices continue to rise at Iran's free market

Business Materials 5 December 2013 18:02 (UTC +04:00)

Baku, Azerbaijan, Dec. 5

By Umid Niayesh - Trend:

Each Bahar-e Azadi gold coin was sold at the price of 8.61 million rials on Iran's free market on Wednesday, the ISNA News Agency reported on Dec. 5.

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

Each Bahar-e Azadi gold coin was presented at the price of 8.52 million rials on Wednesday.

The U.S. dollar was also sold at the price of 29,500 rials on the free market on Dec. 5, while the Euro was presented at the price of 40,200 rials.

The U.S. dollar and the euro were traded at the prices of 29, 450, and 40,050 rials on Wednesday.

The deal on the Iranian nuclear programme between Iran and the P5+1 on Nov. 24 and society's optimistic mood had a temporary influence on the market causing prices to drop sharply, but the falling trend has not continued.

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.