Central Bank of Iran Delivering 2.5m Presold Gold Coins

EghtesadOnline: The Central Bank of Iran has started the delivery of 2.5 million presold gold coins with a six-month maturity.

News ID: ۷۸۳۷۵۷

20 August 2018

“As of today, August 19, the delivery phase of the six-month maturity presale plan has started and it will continue until November 16 … More than 2.5 million gold coins … will be offered at the branches of Bank Melli Iran,” IBENA reported. The buyers are required to refer to the same branches that handled the purchase. The government unveiled a plan early this month to ease its control over the troubled foreign currency market. It sparked a positive response from the gold coin market, with the benchmark Bahar Azadi dropping about 8%. The government’s intervention in the forex market in April to impose a single official exchange rate at 42,000 rials against the dollar and banning any trading beyond that rate had proved counterproductive, according to Financial Tribune.