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Gold coin prices continue to fall on Iran’s free market

Business Materials 8 December 2013 14:39

Baku, Azerbaijan, Dec. 8
By Rahim Zamanov - Trend:

Each Bahar-e Azadi gold coin was sold at the price of 8.60 million rials on Iran's free market on Sunday.

Each Bahar-e Azadi gold coin was presented at the price of 8.63 million rials on Saturday.

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

U.S. dollar was also sold at the price of 29,420 rials on the free market on Sunday, while Euro was presented at the price of 40,250 rials.

U.S. dollar and euro were traded at the prices of 29,550, and 40,350 rials on Saturday.

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 compared to 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 the ‎brokers refuse to trade dollar at the mentioned price.

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