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Gold, dollar gain value in Iran

19 March 2015 11:34 (UTC+04:00)
Gold, dollar gain value in Iran

The full Bahar Azadi gold coin was sold at 9,450,000 rials ($337.5 based on official rial rate of 27,995 for each USD) in Tehran on March 18.

This shows a 100-rial increase since the previous day, ISNA news agency reported.

The half-coin was sold at 5,360,000 rials and the quarter-coin at 2,830,000 rials for the day.

Also, each gram of 18-carat gold was sold at 950,210 rials.

The US dollar in the free market also jumped by 1,200 rials to hit 33,700. The number was 35,500 a month ago, but it fell to 32,700 Monday, and is now rising again. It hit 34,000 on Tuesday.

This is while the US dollar exchange rate used to rise each year on the verge of the new Iranian calendar year due to a rise in demand for holiday trips.

In the meantime, gold was sold at the lowest 3-month record since the US Federal Reserves announced it had limited gold supply.

Also, the main Tehran Stock Exchange main index (TEPIX) increased by 999.1 to reach 62,532. The number had increased by 1,000 to hit 65,000 Monday, but fell to 51,500 Tuesday.

Founded in 1967, the Tehran Stock Exchange has been one of the world's best performing stock markets in recent years and has ranked as the best bourse index in Europe, Africa and Middle East in 2010 in terms of performance of the main index.

The TSE's annual growth rate of main indices was also ranked as the second best among all members of the World Federation of Exchanges.

The WFE is the association of 52 regulated exchanges around the world, which aims to develop and promote standards in markets.

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