BAKU: The Central Bank of Iran (CBI) put up an official exchange rate for foreign currencies on July 2, Trend reports via the CBI.

Based on the bank’s currency exchange rate, one currency price increased and 44 currency prices decreased compared to July 1.

As for CBI, $1 equals 392,426 Iranian rials, and one euro equals 420,960 rials, while on July 1, one euro was 422,140 rials.

In Iran, the official exchange rate is used for the import of some essential products.

The SANA system is a system introduced by the Central Bank of Iran to the currency exchange offices, where the price of one euro is 495,238 rials and the price of $1 is 461,670 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 462,407 rials, and the price of $1 was 431,064 rials.

On the black market, $1 is worth about 616,000-619,000 rials, while one euro is about 659,000-663,000 rials.

Source: Trend News Agency