BAKU, Azerbaijan, May 14
By Elnur Baghishov - Trend
The amount of currency sold to banks at the NIMA exchange rate (the exchange rate created for exporters to sell a portion of their export earnings to banks) in current Iranian week, which began May 9, increased by 48 percent compared to last week, Trend reports citing official website of NIMA.
According to the report, the Central Bank of Iran and exporters sold about 313 million euros at the NIMA exchange rate to banks from May 9 to 13.
“During this period, banks were asked to purchase about 138 million euros at the NIMA exchange rate. This is an increase of about 23 percent compared to last week,” report said.
According to the report, the Director General of the Central Bank of Iran Abdul-Nasser Hemmati predicts that with the gradual resumption of oil and non-oil exports in the post-coronavirus period, currency trading in the country will return to normal.
Iran experienced devaluation in summer of 2018. Thus, the price for $1 on the black market has jumped to more than 200,000 rials from 35,000 rials. With the intervention of the Iranian government on the foreign exchange market, the US dollar has fallen to some extent.
According to the currency exchange rate of the Central Bank of Iran, $1 equals 42,000 rials, 1 euro equals 46,000 rials based on the exchange rate offered to banks; $1 equals 167,000 rials and 1 euro equals 181,000 rials (SANA), $1 equals 139,000 rials and 1 euro equals 158,000 rials (NIMA).