BAKU, Azerbaijan, March 11. The value of foreign currency sold at Iran’s Currency and Gold Exchange Center on March 10, 2024, decreased by $7.5 million compared to the previous day, Iran’s Central Bank (CBI) said, Trend reports.
Data from CBI shows that nearly $156 million worth of various currencies were exchanged at the Currency and Gold Exchange Center in Iran under the NIMA exchange rate on March 10. However, the figure stood at $163 million as of March 9, 2024.
Meanwhile, over $280 million worth of foreign currency was put up for sale at the center under the NIMA rate on March 10.
The Currency and Gold Exchange Center was launched in Iran on February 21, 2023, to prevent the sharp increase in the price of foreign currencies on the black market.
According to the CBI's currency exchange rate, $1 equaled 42,000 Iranian rials and one euro, or 45,874 rials, on March 11. The CBI notes that it is possible to import several products at this exchange rate.
The SANA system is a currency exchange system implemented by the Central Bank of Iran in which the price of one euro is 471,350 rials and the price of one dollar is 431,545 rials.
NIMA is a scheme for selling a percentage of the foreign money earned from exports.
The price of one euro in this system amounted to 438,873 rials, and the price of $1 - 401,811 rials.
On the black market, $1 is worth 591,000–594,000 rials, while one euro is about 647,000–650,000 rials.