BAKU, Azerbaijan, October 1. The value of total sales at the Iran Energy Exchange (IRENEX) decreased by 67 percent during the last Iranian week (Sept. 23 through Sept. 27, 2023), compared to the previous week (Sept. 16 through Sept. 20, 2023), Trend reports.
According to the report, the value of total sales at the IRENEX for the last week was around 16.7 trillion rials (about $40.4 million). The figure stood at approximately 50.5 trillion rials (about $123 million) in the previous week.
Last week, 73,300 tons of hydrocarbon products worth 16.1 trillion rials (about $39.1 million) were sold at the Iran Energy Exchange.
Of that, 7.45 trillion rials (about $18.1 million) worth of products were sold on the domestic floor, while 8.66 trillion rials (about $21 million) were sold on the international floor of the IRENEX.
At the same time, Standard Parallel Salaf (an Islamic contract similar to futures) documents worth about 549 billion rials (about $1.32 million) were also sold at the energy exchange.
Meanwhile, the value of other sales at the energy exchange was 5.05 billion rials (about $12,200).
The products at Iran Energy Exchange (IRENEX) are sold at the SANA exchange rate.
The SANA system is a system introduced by the Central Bank of Iran to the currency exchange outlets, where the price of 1 euro is 436,131 rials and the price of $1 is 411,964 rials.
The sale of hydrocarbon products at the Iran Energy Exchange is of great importance to the country’s economy. Through the energy exchange, Iran seeks to provide hydrocarbon products needed by local companies as well as increase exports.
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