Significant Surge in Coin and Gold Bullion Purchases in Iran
The World Gold Council has announced in its latest quarterly report a 38% surge in coin and gold bullion purchases by Iranian citizens in the first three months of the current calendar year.
According to the report, Iranians have purchased approximately 12,900 kilograms of coins and gold bullion in the first three months of 2023, which is the highest figure since the fourth quarter of 2018.
Last winter, the exchange rate of the US dollar reached a record high of around 60,000 Iranian rials, compared to 40,000 rials, but it slightly decreased to around 54,000 rials in the second half of December.
It seems that the rapid decline in the value of the national currency has prompted Iranian citizens to turn to the coin and gold bullion market to preserve their rial assets.
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