Forex, gold coin prices continue to fall on Iran’s free market
Azerbaijan, Baku, Sep.17/ Trend R.Zamanov
Each Bahar-e Azadi gold coin was sold at the price of 977,000 rials on Iran's free market on Tuesday.
The Bahar-e Azadi gold coin was presented at the price of 983,000 rials on Monday.
The coin is an Iranian limited circulation minted gold coin offered by the Central Bank of Iran (CBI).
US dollars were also sold at the price of 31,100 rials on the free market on Tuesday, while the euro was presented at the price of 41,500 rials.
The U.S. dollar and euro were traded at the prices of 31,200, and 41,900 rials on Monday.
This comes as the European Court lifted sanctions against 18 Iranian companies on Monday, including the Islamic Republic of Iran Shipping Lines, Fars news agency reported.
Manager of the Islamic Republic of Iran Shipping Lines, Mohammad Hossein Dajmar said it was a 'big success' for the company.
On Sept. 6, the European Union court also ruled that the EU should lift sanctions it imposed against seven Iranian companies, Reuters reported.
The ruling which can be appealed follows similar decisions earlier this year against sanctions imposed on two of Iran's biggest banks.
Iran's national currency, the rial, lost about 50 per cent 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 a 28,500 rials price for the free market, but brokers refuse to trade dollars at that price.