83004
Presale of Gold Coins Hit $175m
Presale of Gold Coins Hit $175m
Monday, March 05, 2018

Presale of Gold Coins Hit $175m

Monday, March 05, 2018

Presale of Gold Coins Hit $175m

Since the launch of the gold coin presale by the Central Bank of Iran on Feb. 17 to cool the market, some 600,000 coins worth 8 trillion rials($175 million) have been sold, the head of Banknote and Coin Issuance Department at CBI announced. 
As part of its recent measures to stop the forex rally, CBI has issued one- and two-year certificates of deposit based on rial, but with a value linked to the euro or dollar, and has been offering gold coins with six-month and one-year maturities at fixed and preferential rates.  
Masoud Rahimi was also quoted as saying by ISNA that the coins have sold at the price of 13 million rials ($291) for one-year maturity and 14 million rials ($313) for six-month maturity.  He predicted that as the deadline for the sale of 20%-yield certificates of deposits comes to an end, demand for gold coins would increase.

Premium

Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Short URL : https://goo.gl/2eKZA5
03/05/2018
  1. https://goo.gl/n8vTAS
  • https://goo.gl/SPJWJ5
  • https://goo.gl/jXRYjv
  • https://goo.gl/vPsBfX
  • https://goo.gl/eYX8gB

You can also read ...

Forex Rates Decline Continues in Tehran Market
The currency market in Tehran stabilized further on  Sunday...
Trump Tactic to Sanction Swift May Not Work
The Trump administration abandoned the Iran nuclear deal this...
Iran's 9-Month Trade With China Grows 1.8% to $29b
China remains the top customer of Iran’s oil and non-oil goods...
36% Rise in Iran's Cigarette Tax Revenues
The government earned 2.5 trillion rials ($17.48 million) from...
Snapshot of Iran's Nomadic Economy
The findings of the recent National Population and Housing...
Iran H1 Steel Exports Top 3.5m Tons
Major Iranian steelmakers exported a total of 3.51 million...
Organic Crop Production to Be Piloted in 4 Provinces of Iran
Four provinces of Khuzestan, Fars, Isfahan and Zanjan have...
Q1 Production Index Signals Lackluster Industrial Performance
Iran's major industries staged a relatively weak performance...

Add new comment

Trending

Googleplus