BAKU, Azerbaijan, November 4. The value of total sales at the Iran Energy Exchange (IRENEX) fell by 75.3 percent during the last Iranian week (Oct. 28 through Nov. 1, 2023), compared to the previous week (Oct. 21 through Oct. 26, 2023), Trend reports.
According to the report, the value of total sales at the IRENEX for the last week was around 48.4 trillion rials (about $117 million). The figure stood at over 27.6 trillion rials (about $66.9 million) in the previous week.
Last week, more than 166,000 tons of hydrocarbon products worth 48 trillion rials (about $116 million) were sold at the Iran Energy Exchange, which accounts for 99.4 percent of total sales at IRENEX.
Of that, 12.5 trillion rials (about $30.4 million) worth of products were sold on the domestic ring, while 35.5 trillion rials (about $86 million) were sold on the export ring of the IRENEX.
The main hydrocarbon products sold were iso-recycled, methanol, and various grades of solvent products, etc.
Meanwhile, the value of other sales at the energy exchange was 299 billion rials (about $724,000).
Iran Energy Exchange (IRENEX) sells its products 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 443,352 rials and the price of $1 is 413,094 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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