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Iran's Bahar Azadi gold coin prices running downward

Business Materials 15 August 2024 15:09 (UTC +04:00)
Elnur Baghishov
Elnur Baghishov
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BAKU, Azerbaijan, August 15. The new edition of Iran's Bahar Azadi gold coin was sold for 413 million rials (approximately $1,015) on August 15, decreasing from 413 million rials (roughly $1,018) on August 14, the Iran Jewellery Association's web portal said, Trend reports.

The Central Bank of Iran pulled a fast one and shook up the official exchange rate of the US dollar on May 31, 2024, causing prices to go haywire.

Meanwhile, the prior edition of the coin was sold for around 371 million rials (about $923).

The other versions of the new Bahar Azadi gold coin (different in weight and content) include 1/4 Bahar Azadi gold coins and 1/2 Bahar Azadi gold coins.

A 1/2 gold coin was sold for 226 million rials (about $554), and a 1/4 gold coin - for 146 million rials (about $357).

The price of one gram of 18-karat gold stood at 34.7 million rials (about $85.4).

To note, the coins showed up in Iran following the Islamic Revolution's victory in 1979. The Central Bank of Iran made a move and issued the coins, putting them up for grabs for both wholesale and retail sales.

The bank minted the old gold coins between 1979 and 1991 before issuing new ones.
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