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Euro price rises on Iran’s free market

Business Materials 4 February 2014 14:06

Baku, Azerbaijan, Feb. 4
By Rahim Zamanov - Trend:

The U.S. dollar was sold at the price of 29,530 rials on Iran's free market on February 4, while euro was presented at the price of 40,100 rials.

U.S. dollars and the euro were each traded at the prices of 29,550 and 40,005 rials on February 3.

Each Bahar-e Azadi gold coin was also sold at the price of 8.75 million rials on Iran's free market on Tuesday.

The Bahar-e Azadi gold coin was presented at the price of 8.72 million rials on February 3.

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

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 a 28,500 rials price for the free market, but brokers refuse to trade dollars at that price.

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