US dollar, gold continue to rise in Iran
Baku, Azerbaijan, Jan. 10
By Khalid Kazimov - Trend:
The rising trend of US dollar continues in Iran's free market as the US currency was sold at 37,340 rials on Jan. 10, compared to37,180 rials on Jan. 9.
However the rate for euro and pound sterling did not change as they were sold at 40,500 rials and 54,100 rials on Jan. 10.
Meanwhile a full Bahar-e Azadi fine gold coin was sold at 9,160,000 rials which grew by 30,000 rials, IRNA news agency reported.
The Central Bank of Iran has been issuing Bahar-e Azadi (Spring of Liberty) coins since the 1979 Islamic Revolution in Iran, when the Islamic Republic was founded.
The standard gold coin weighs 8.133 grams. It is also sold in smaller denominations of a half coin and a quarter coin.
Some observers have suggested that the rising trend of US dollar is likely to continue in Iran, forecasting that it will most likely hit 40,000 rials in the free market by March 2016.
The Central Bank of Iran has put the official rate of US dollar, at 30, 157 on January 10 compared to 30,071 rials in late November 2015.
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 US dollar. It was close to 10,000 in early 2011.