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

“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.

 

Central Bank of Iran Presold Gold Coins