BAKU, Azerbaijan, July 27
By Elnur Baghishov – Trend:
About 4.24 billion euros worth of funds were sold to Iranian banks at the NIMA exchange rate (the exchange rate created for exporters to sell a portion of their export earnings to banks) during the first four months of the current Iranian year (March 20-July 21, 2020), Trend reports citing official website of Tehran Chamber of Commerce Industries Mines and Agriculture.
According to the report, this is a decrease of 28.3 percent compared to the same period last Iranian year.
Meanwhile, in the same period last Iranian year, 5.99 billion euros were sold to banks at the NIMA rate.
“About 531 million euros were sold to Iranian banks at the NIMA exchange rate in the first month of the current Iranian year (March 20-April 19), 1.23 billion euros in the second month (April 20-May 20), 1.08 billion in the third month (May 21-June 20), 1.44 billion euros in the fourth month (June 21-July 21),” the report said.
“In addition, 2.71 billion euros were sold to importers at the NIMA exchange rate for the import of a number of products during 4 months. This is a decrease of 49.8 percent compared to the same period last Iranian year. Thus, 5.4 billion euros were sold to importers at the NIMA exchange rate in the same period last Iranian year,” the report added.
According to the report, 414 million euros were sold to importers at the NIMA exchange rate in the first month of the current Iranian year (March 20-April 19), 763 million euros in the second month (April 20-May 20), 618 million euros in the third month (May 21-June 20), 916 million euros in the fourth month (June 21-July 21), assets worth.
Following the devaluation of national currency in 2018, the Central Bank of Iran introduced the sale of part of the currency earned from exports at the rate set by the NIMA system, taking into account the difference between the black market and the official exchange rates.
According to the currency exchange rate of the Central Bank of Iran, $1 equals 42,000 rials and 1 euro equals 49,000 rials; at SANA rates, $1 equals 222,000 rials and 1 euro equals 256,000 rials; while at NIMA rates, $1 equals 181,000 rials and 1 euro equals 206,000 rials.
