Euro' rate in Iran goes up

Iran Materials 29 December 2011 13:39 (UTC +04:00)

Azerbaijan, Baku, Dec. 29/ Trend M. Moezzi

Despite the Iranian government's efforts to bring down the exchange rate for foreign currencies, the Euro rate climbed up to almost 20,000 rials, ISNA reports.

The U.S. dollar's steep climb in value was 11,520 rials on the free market in Iran.

On Wednesday, December 28, the value of Bahar Azadi gold coins minted by Iran was about 6 million rials, and old gold coins were pegged at 6.30 million rials.

Based on this, one mesghal of 17 carat gold was about 2.46 million rials while 18 carat gold was worth about almost 2.62 million rials per mesghal. A mesghal equals about 4.6 to 4.7 grams.

Meanwhile, the exchange rate for the Euro on free market value was 19,920 rials and 24,350 rials for the British Pound. Worldwide gold prices decreased to $1,586 per ounce.

On the same day, the official exchange rate was 11,150 rials for the dollar, 17,457 for the British pound, and 14,566 for the Euro.