Dollar, gold coin prices up again in Iran

Iran Materials 30 January 2012 17:31 (UTC +04:00)

Azerbaijan, Baku, Jan. 30/ Trend M. Moezzi /

The price on a whole old design Bahar Azadi gold coin reached 8.5 million rials ($693) in Iranian markets today and the dollar was sold for 18,800 rials, Mehr News Agency reported.

New Bahar Azadi coins were sold for 8.4 million rials (about $685). Bahar Azadi coins are minted and sold by the Iranian Central Bank (CBI).

One ounce of gold cost $1,731 in world markets while domestically one gram of 18 karat gold hit 750,000 rials (about $61).

The black market's 18,800 rial price for $1 up compared to yesterday's 18,300 rial price.

On Saturday, the CBI announced a single rate for $1 - 12,260 rials. The measure is made to stabilize Iran's foreign currency markets which saw wild fluctuations for the last few weeks. The concern about Iran's economy drove Iranians toward foreign currency and gold coin markets.