Iran Central Bank: Foreign currency sale to NIMA accelerates

Finance Materials 18 February 2019 13:30 (UTC +04:00)

Baku, Azerbaijan, Feb. 18

By Elnur Baghishov – Trend:

Sales of foreign currency earned from exports to Iran’s NIMA system have accelerated, Trend reports referring to the website of the Central Bank of Iran.

In addition, an increase in sales of foreign currency to the NIMA system by oil and chemical companies, steel companies, the National Gas Company and the private sector non-oil exporters has been observed.

According to the Central Bank, this amount exceeded 1 billion euros from August 7, 2018 to February 18, 2019.

The Central Bank said this amount is in addition to the currency sold by exporters to foreign currency exchange offices.

NIMA is a system for exporters to sell a certain amount of the foreign currency earned by them for returning it to Iran’s national economic turnover.

The price of 1 euro in the NIMA system is 97,950 rials and the price of $1 is 84,907 rials.

The official exchange rate for $1 in Iran is 42,000 rials.

The price of $1 in the Iranian black market stands at around 125,000-130,000 rials.