Forex prices rise, gold coin price falls on Iran’s free market

Business Materials 4 March 2014 13:58 (UTC +04:00)

Baku, Azerbaijan, Feb. Mar. 4

By Rahim Zamanov - Trend:

Each Bahar-e Azadi gold coin was sold at the price of 9.77 million rials on Iran's free market on March 4.

The Bahar-e Azadi gold coin was presented at the price of 9.85 million rials on Monday.

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 31,000 rials on the free market on March 4, while the euro was presented at the price of 42,700 rials.

U.S. dollars and euros were traded at the prices of 30,720, and 42,400 rials respectively on Monday.

Iran's national currency the rial, lost nearly 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 the dollar at that price.

Edited by SM