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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