Business And Markets

Gold Gains, Currency Stable

Gold Gains, Currency Stable
Gold Gains, Currency Stable

Gold prices in Tehran ended higher Monday while currency rates remained mostly unchanged.
The popular Emami gold coin experienced no change during the day and was traded at 107.5 million rials. This is while half Bahar Azadi coin shot up 3.03% reaching 66 million rials. 
A quarter Bahar Azadi gold coin bought 42 million rials 3.57% higher than Sunday's close. 
Given that gold coin prices in Iran are usually influenced by forex rates, with no significant change in currency rated the rise in gold coins is largely due to the Nowruz (Persian New Year) and the fact that the two coins (half and quarter) are affordable for buyers wanting to give gold as gifts during the two-week annual holiday season. 
Foreign currencies remained mostly stable on the third day of the week. The dollar lost 0.62% on Monday in Tehran's free market and was quoted at 245,000 rials. It was tagged at 237,370 rials in the Central Bank of Iran's regulated market down 0.78%. 
The euro was worth 292,040 rials down 0.95% compared to Sunday's close and the UAE dirham lost 0.3% to buy 68,000 rials.

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