Tehran: The Central Bank of Iran (CBI) has released the official exchange rates for foreign currencies as of August 31.
According to Trend News Agency, the value of 46 currencies increased compared to their rates on August 30.
The official rate for $1 has been set at 574,773 rials, while one euro is valued at 671,617 rials. This marks an increase from August 30, when the euro was priced at 652,264 rials. The British pound also saw an increase, now valued at 776,255 rials compared to 753,355 rials the previous day.
Several other currencies experienced similar upward adjustments. The Swiss franc rose to 717,949 rials from 697,392 rials, while the Swedish kr³na increased to 60,739 rials from 58,896 rials. The Norwegian krone and Danish krone also saw hikes, with their values now at 57,147 rials and 89,944 rials, respectively.
The Indian rupee’s value increased to 6,518 rials from 6,323 rials, and the UAE Dirham rose to 156,507 rials from 151,848 rials. The Kuwaiti dinar saw a substantial rise to 1,881,380 rials from 1,825,518 rials.
The CBI has adopted the SANA system for currency exchange offices, where one euro costs 840,866 rials and $1 costs 719,618 rials. Additionally, the NIMA scheme is in place for selling a percentage of the foreign money earned from exports, with the euro priced at 816,375 rials and the dollar at 698,658 rials.
On the black market, the valuation is significantly higher, with $1 worth about 1 to 1.03 million rials, while one euro is valued between 1.17 and 1.2 million rials.