Gold coin prices rise on Iran’s free market

Iran Materials 4 November 2013 13:09 (UTC +04:00)

Azerbaijan, Baku, Nov. 4/ Trend R.Zamanov

Each Bahar-e Azadi gold coin was sold at the price of 960,000 rials on Iran's free market on Monday, the ISNA News Agency reported.

The Bahar-e Azadi gold coin was presented at the price of 958,000 rials on Sunday.

The Bahar-e Azadi 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 30,450 rials each on the free market on Monday, while the euro was presented at the price of 41,150 rials.

U.S. dollars and the euro were each traded at the price of 30,400, and 41,150 rials respectively on Sunday.

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 against the dollar. It was close to 10,000 in early 2011.

The government set the 28,500 rial price for the free market, but the ‎brokers refuse to trade dollars at that price.