USD rate hiked in Iran in one year

Tehran, Iran, June 21

By Mehdi Sepahvand - Trend:

In the past one year, gold coin in the Iranian market went down in price while the US dollar gain value.

In the one year ending May 22 this year, the new-edition Bahar Azadi full gold coin experienced a depreciation of 5.4 to be sold at 9,487,730 rials ($325.7 based on Iran's official dollar price of 291,290

rials), Fars news agency reported June 21.

The old-edition Bahar Azadi full gold coin was sold at 9,471,930 rials at the end of the period.

The two editions of the coins decreased in value by 0.9 percent compared to one month earlier and by 5.4 percent and 5.4 percent compared to one year earlier respectively.

In the first two months of the current Iranian fiscal year (which started May 21), the new edition coin underwent 3.4 percent depreciation to be sold at 5,929,240 rials, while the old edition was sold at 9,510,140 rials with a depreciation of 2.3 percent.

At the end of the period mentioned above, the US dollar was sold at 33,319 rials with 0.2 percent depreciation since one month earlier, while the euro experienced 2.3 percent growth in value to be sold at 37,112 rials.

The new dollar rate comes with 1.1 percent growth compared to one year earlier, while that of the euro with 18.4 percent decline.

In the first two months of the current Iranian fiscal year, the dollar grew in price by 3.9 percent while the euro declined in value by 17.1 percent.

Follow the author on Twitter: @mehdisepahvand

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