BAKU, Azerbaijan, May 12. The price of a newly minted Bahar Azadi gold coin in Iran amounted to 745 million rials (approximately $1,323) on May 12, according to the Iran Jewellery Association’s official data portal, Trend reports.
This marks a decrease from 776 million rials (around $1,378) on May 11.
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 701 million rials (around $1,245).
A half coin was traded at 455 million rials (approximately $808), while a quarter coin sold for 256 million rials (about $454).
One gram of 18-carat raw gold was priced at 65.6 million rials (roughly $116).
Following the 1979 Islamic Revolution, Iran’s Central Bank began minting the Bahar Azadi gold coin, which is sold both wholesale and retail. The older design was produced from 1979 to 1991, after which the current version was introduced.
-------
Follow the author on X: @BaghishovElnur
