BAKU, Azerbaijan, June 28
By Elnur Baghishov – Trend:
About 3.3 billion euros were sold to Iranian banks at the NIMA exchange rate (the exchange rate created for exporters to sell a portion of their export earnings to banks) from the beginning of current Iranian year (March 20, 2020) to June 27, Trend reports citing the Central Bank of Iran (CBI).
According to the report, the highest amount of buy/sell operations were recorded last Iranian week (in Iran, the week begins on Saturday). Last week, 429 million euros were sold to banks. This is an increase of 92 percent compared to the preceding week.
The NIMA exchange rate in Iran was created to facilitate the provision of foreign currency. Using this currency, importers provide their needs.
“Therefore, the NIMA exchange rate is the currency supply market between exporters and importers in Iran,” the report said.