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Iran's Foreign Exchange and Gold Exchange Center boosts foreign currency sales

Business Materials 8 April 2024 10:40 (UTC +04:00)
Elnur Baghishov
Elnur Baghishov
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BAKU, Azerbaijan, April 8. Various foreign currencies sold at Iran's Foreign Exchange and Gold Exchange Center at the NIMA rate rose by $52.3 million on April 7 compared to April 6, the Central Bank of Iran said, Trend reports.

According to the information, about $151 million worth of foreign currency was sold in Iran's Foreign Exchange and Gold Exchange Center on April 7. Meanwhile, on April 6, foreign currency worth $98.6 million was sold in Iran's Foreign Exchange and Gold Exchange Center. A total of about $324 million worth of foreign currency was sold on April 7.

To note, Iran's Currency and Gold Exchange Center started operating on February 21, 2023, to prevent a sharp rise in the prices of foreign currencies on the black market.

The official exchange rate of the Central Bank of Iran today is 1 US dollar, which is 42,000 rials, and 1 euro, which is 45,519 rials. The Central Bank of Iran notes that several goods can be imported at this rate.

The exchange rate announced by the Central Bank of Iran to banks and exchange offices is called the SANA system. According to this system, 1 euro was worth 472,185 rials, and 1 dollar was worth 434,678 rials.

The system in Iran in which businessmen sell a certain portion of foreign currency obtained by exporting products to the country's economy is called NIMA. According to this system, the price of 1 euro is 440,545 rials, and the price of 1 dollar is 406,484 rials.

The price of 1 dollar in Iran's black market ranges from 638,000 to 641,000 rials, and the price of 1 euro ranges from 692,000 to 695,000 rials.

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