BAKU, Azerbaijan, March 13. The value of foreign money sold at Iran's Money and Gold Exchange Center (March 12) rose by $3.1 million compared to the previous day (March 11), Iran’s Central Bank (CBI) said, Trend reports.
The data from the central bank indicates that foreign currency worth $257 million was sold in Iran's currency and gold exchange centers. On March 11, about $254 million worth of foreign currency was sold in Iran's currency and gold exchange centers. A total of more than $527 million worth of foreign currency was sold over the 12 March.
To note, Iran launched the Currency and Gold Exchange Center on February 21, 2023, to prevent a sharp rise in foreign currencies on the black market.
The official exchange rate of the Central Bank of Iran today is 42,000 rials to 1 U.S. dollar and 45,853 rials to 1 euro. The Central Bank of Iran notes that several products can be imported at this exchange rate.
The exchange rate announced by the Central Bank of Iran to banks and exchange offices is called the SANA system. According to this system, 1 euro was worth 471,412 rials, and $1 was worth 431,802 rials.
The system that is used by businessmen in Iran to return a certain part of the currency obtained by exporting products back to the economy of the country is called Nima. According to this system, 1 euro is worth 439,340 rials, and $1 is worth 402,425 rials.
The dollar is worth 594,000–597,000 rials, and 1 euro is worth 648,000–651,000 rials on the black market in Iran.
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