Baku, Azerbaijan, Aug. 28
By Elnur Baghishov - Trend:
Iran spends foreign currency reserves very cautiously, Director General of the Central Bank of Iran Abdulnasir Himmati told reporters after the Cabinet of Ministers' meeting, Trend reports citing IRINN.
Himmati noted that Iran continuously imports essential goods.
He added that raw materials for production facilities are imported according to the rates of NIMA system. "Iran has enough foreign currency reserves. The current amount is much bigger than five or six years ago and there are not any problems in this sector," he said.
NIMA is a system intended for the sale of a certain percentage of the foreign currency gained from export. The price of 1 euro in this system is 125,340 rials, and the price of $1 is 111,145 rials.
In the black market, $1 is worth about 110,000-113,000 rials, while 1 euro is worth about 123,000-126,000 rials.