BAKU, Azerbaijan, November 4. The new edition of Iran's Bahar Azadi gold coin was sold for 524 million rials (approximately $1,185) on November 4, decreasing from 540 million rials (roughly $1,218) on November 3, the Iran Jewellery Association's web portal said, Trend reports.
The Central Bank of Iran decided to throw caution to the wind and embrace a floating foreign exchange rate system on May 31, 2024, so now the prices are as unpredictable as a roller coaster ride.
Meanwhile, the prior edition of the coin went for roughly 494 million rials, which is about $1,117 in the grand scheme of things.
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 278 million rials (about $628), and a 1/4 gold coin was sold for 173 million rials (about $391).
The price of one gram of 18-karat gold stood at 46.3 million rials (about $104).
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.