Gold coin price continues to fall on Iran’s free market

Iran Materials 18 November 2013 13:52 (UTC +04:00)

Baku, Azerbaijan, Nov. 18

By Rahim Zamanov - Trend:

Each Bahar-e Azadi gold coin was sold at the price of 919,000 rials on Iran's free market on Monday.

The Bahar-e Azadi gold coin was presented at a price of 924,000 rials on Sunday.

Bahar-e Azadi Coins are an Iranian limited circulation minted gold coin offered by the Central Bank of Iran (CBI).

The US dollar was also sold at the price of 30,030 rials on the free market on Monday, whilst the euro was presented at the price of 40,550 rials.

U.S. dollars and euros were traded at the prices of 30,070, and 40,600 rials each 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 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.