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Iran’s free market gold coin price falls

Iran Materials 16 December 2013 14:47

Baku, Azerbaijan, Dec. 16

By Rahim Zamanov - Trend:

Each Bahar-e Azadi gold coin was sold at the price of 8.69 million rials at Iran's free market on Monday, the ISNA News Agency reported on December 16.

Each Bahar-e Azadi gold coin was presented at the price of 8.76 million rials on Sunday.

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

U.S. dollar was also sold at the price of 29,410 rials at the free market on Monday, while Euro was presented at the price of 40,470 rials.

U.S. dollar and euro were traded at the prices of 29,540, and 40,600 rials on Sunday.

Iran's national currency, the rial, lost about 50 percent 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 the 28,500 rials price for the free market but the ‎brokers refuse to trade dollars at the mentioned price.

Edited by C.N.

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