BAKU, Azerbaijan, July 8
By Elnur Baghishov – Trend:
About 3.59 billion euros were sold to 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 the current Iranian year March 20 to July 5, Trend reports citing the official website of NIMA.
According to the data, this figure shows a decrease of 32.1 percent compared to the same period last Iranian year. About 5.28 billion euros were sold to banks at the NIMA exchange rate in the same period last Iranian year.
During the period, 2.27 billion euros were purchased from banks at the NIMA exchange rate.
"This shows a decrease of 52.3 percent compared to the same period last Iranian year," the statistic said.
According to the report, 4.77 billion euros were purchased from banks at the NIMA exchange rate in the same period last Iranian year.
About 11.1 billion euros were sold at the NIMA exchange rate during eight months of the preceding Iranian year (from July 23, 2018 to March 20, 2019).
As many as 16.1 billion euros were sold at the NIMA exchange rate in the last Iranian year, (March 21, 2019 to March 20, 2020).
Following the devaluation of national currency in 2018, the Central Bank of Iran introduced the sale of part of the currency earned from exports at the rate set by the NIMA system, taking into account the difference between the black market and the official exchange rates.
According to the currency exchange rate of the Central Bank of Iran, $1 equals 42,000 rials and 1 euro equals 47,000 rials; at SANA rates, $1 equals 206,000 rials and 1 euro equals 214,000 rials; while at NIMA rates, $1 equals 168,000 rials and 1 euro equals 188,000 rials.