BAKU: The Central Bank of Iran (CBI) posted an official foreign currency rate on May 7, Trend reports via the CBI.

Based on the bank’s currency exchange rate, 21 currency prices grew while 11 fell compared to May 6.

As for CBI, $1 equals 42,000 Iranian rials, and one euro equals 45,272 rials. On May 6, one euro was 45,197 rials. In Iran, the official exchange rate is used for the import of some essential products.

The exchange rate announced by the CBI to banks and exchange offices is called the SANA system. According to this system, one euro was worth 482,727 rials, and $1 was worth 447,838 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 450,725 rials, and the price of $1 was 418,149 rials.

On the black market, $1 is worth about 606,000-610,000 rials, while one euro is about 654,000-657,000 rials.

Source: Trend News Agency