Gold coin price rises, forex prices fall at Iran’s free market

Iran Materials 17 December 2013 15:14 (UTC +04:00)

Baku, Azerbaijan, Dec. 17

By Rahim Zamanov - Trend:

Bahar-e Azadi gold coins were sold at the price of 8.73 million rials each at Iran's free market on Tuesday, the ISNA News Agency reported on Dec. 17.

Each Bahar-e Azadi gold coin was presented at the price of 8.69 million rials on Monday.

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

The U.S. dollar sold at the price of 29,400 rials at the free market on Tuesday, while the Euro was presented at the price of 40,600 rials.

The U.S. dollar and the euro were traded at the prices of 29,410, and 40,470 rials on Monday.

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.