Forex prices rise, gold coin price falls on Iran’s free market
Baku, Azerbaijan, Feb. Mar. 19
By Rahim Zamanov - Trend:
Each Bahar-e Azadi gold coin was sold at the price of 9.53 million rials on Iran's free market on March 19, the last working day of the current Iranian calendar year (to end on March 20).
The Bahar-e Azadi gold coin was presented at the price of 9.54 million rials on Tuesday.
Bahar-e Azadi coins are an Iranian limited circulation minted gold coin offered by the Central Bank of Iran (CBI).
The U.S. dollar was also sold at the price of 30,150 rials on the free market on March 19, whilst the euro was presented at the price of 41,900 rials.
U.S. dollars and euros were traded at the prices of 30,050, and 41,850 rials respectively on Tuesday.
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 set the 28,500 rial price for the free market, but the brokers refuse to trade dollars at that price.
Edited by S.M.