Gold coin price falls, Forex prices rise at Iran’s free market

Business Materials 3 September 2014 18:18 (UTC +04:00)

Tehran, Iran, Sept. 3

By Milad Fashtami - Trend:

Each Bahar-e Azadi gold coin was sold at the price of 9.60 million rials at Iran's free market on Sept. 3.

Each Bahar-e Azadi gold coin was presented at the price of 9.615 million rials on Tuesday, Iran's IRNA News Agency reported on Sept. 3.

Bahar-e Azadi Coin is 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 31,850 rials at the free market on Sept. 3, while the euro was presented at the price of 41,900 rials.

U.S. dollar and euro were traded at the prices of 31,630 and 41,600 rials on Tuesday, Sept.2.

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

Edited by CN