Foreign Currency Sales At Iran's Currency And Gold Exchange Center Decrease
(MENAFN- Trend News Agency) BAKU, Azerbaijan, March 4. The value of foreign
currency sold at Iran's Currency and Gold Exchange Center on March
3, 2024, decreased by $178 million compared to the previous day,
Trend reports.
Data from Iran's Central bank (CBI) shows that $111 million
worth of various currencies were exchanged at the Currency and Gold
Exchange Center in Iran under the NIMA exchange rate on March 3.
However, the figure stood at about $289 million as of March 2,
2024.
Meanwhile, a total of $233 million worth of foreign currency was
put up for sale at the center under the NIMA rate on March 3.
The Currency and Gold Exchange Center was launched in Iran on
February 21, 2023, in order 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 45,450 rials, on March 4. The CBI
notes that it is possible to import a number of 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 464,455
rials and the price of one dollar is 429,203 rials.
NIMA is a scheme for selling a percentage of the foreign money
earned from exports.
The price of 1 euro in this system is 431,385 rials, and the
price of $1 is 398,643 rials.
On the black market, $1 is worth about 592,000–595,000 rials,
while 1 euro is worth about 643,000–646,000 rials.
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