BAKU: The Central Bank of Iran (CBI) put up an official exchange rate for foreign currencies on May 12, Trend reports via the CBI.
Based on the bank’s currency exchange rate, 14 currency prices grew while 18 fell compared to May 11.
As for CBI, $1 equals 42,000 Iranian rials, and one euro equals 45,254 rials. On May 11, one euro was 45,243 rials.
In Iran, the official exchange rate is used for the import of some essential products.
The SANA system is the name given to the CBI’s announcement of the exchange rate to banks and exchange offices. One euro was equivalent to 483,566 rials and one dollar to 448,794 rials under this system.
NIMA is a scheme for selling a percentage of the foreign money earned from exports.
The price of one euro in this system amounted to 451,508 rials, and the price of $1 was 419,042 rials.
On the black market, $1 is worth about 604,000-607,000 rials, while one euro is about 652,000-655,000 rials.
Source: Trend News Agency