BAKU, Azerbaijan, July 8. The new edition of Iran's Bahar Azadi gold coin was sold for 773 million rials (about $1,281) on July 8, down from 792 million rials (roughly $1,312) on July 7, the Iran Jewellery Association's web portal said, Trend reports.
On May 31, 2024, Iran’s Central Bank adopted a floating exchange rate system for foreign currencies, which has led to ongoing price fluctuations.
The older version of the Bahar Azadi coin, minted between 1979 and 1991, was sold for 705 million rials (around $1,168).
A half coin was traded at 424 million rials (around $702), while a quarter coin sold for 247 million rials (about $409).
One gram of 18-carat raw gold was priced at 69.8 million rials (around $115).
In the aftermath of the 1979 Islamic Revolution, the Central Bank of Iran initiated the issuance of the Bahar Azadi gold coin, facilitating transactions in both wholesale and retail markets. The antecedent design iteration was operational from 1979 through 1991, subsequent to which the contemporary version was unveiled.
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