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Iran observes large difference between official currency rate, black market

Finance Materials 26 December 2022 15:51 (UTC +04:00)
Iran observes large difference between official currency rate, black market
Elnur Baghishov
Elnur Baghishov
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BAKU, Azerbaijan, December 26. There is a 10-fold difference between in value of 1 US dollar sold under Iran's official exchange rate and the black market, on December 26, Trend reports via Iranian media.

According to the official exchange rate of Iran, 1 US dollar is 42,000 rials. Meanwhile, on the black market, the figure stands at 420,000 rials.

Today, the national currency of Iran - the rial, reached a historical low against the US dollar.

Economic sanctions against Iran by the US and Western Europe countries, ongoing protests, inflation, as well as other problems show that the economic situation in the country is becoming more complicated day by day.

In Iran, the official exchange rate (where $1=42,000 rials) is used for the import of some essential products.

SANA system is a system introduced by the Central Bank of Iran to the currency exchange offices, where the price of 1 euro is 324,500 rials, and the price of $1 is 305,639 rials.

NIMA is a system intended for the sale of a certain percentage of the foreign currency gained from export.

The price of 1 euro in this system is 311,151 rials, and the price of $1 is 293,065 rials.

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