Iranian currency to world’s currency rates for May 14


BAKU: The Central Bank of Iran (CBI) put up an official exchange rate for foreign currencies on May 14, Trend reports via the CBI.

Based on the bank’s currency exchange rate, 20 currency prices grew while 15 fell compared to May 13.

As for CBI, $1 equals 42,000 Iranian rials, and one euro equals 45,339 rials. On May 13, one euro was 45,234 rials.

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

The SANA system is the name given to the CBI’s announcement of the exchange rate to banks and exchange offices. One euro was equivalent to 484,355 rials and one dollar to 448,689 rials under this system.

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 452,246 rials, and the price of $1 was 418,944 rials.

On the black market, $1 is worth about 593,000-596,000 rials, while one euro is about 640,000-643,000 rials.

Source: Trend News Agency

Azerbaijani trade house to roll out in Chinese Nanjing


BAKU: Azerbaijan is increasing the number of trade houses operating in the People’s Republic of China, Trend reports via AZPROMO.

‘In Nanjing, China, on May 15, the inaugural ceremony of the inaugural “Azerbaijan Trade House” will take place. This is the first of its kind in this Chinese city, and it is being supported by the Ministry of Economy and the Azerbaijan trade mission in China,’ the information emphasizes.

To date, Azerbaijan has trade houses in such Chinese cities as Qingdao, Cangqiao, Xi’an, Chengdu, and Beijing, as well as 4 trade facilities in Shanghai, Harbin, Jinan, and Wuhan.

Besides, there are three wine trade houses in Urumqi and Shanghai that sell products from Azerbaijan.

Source: Trend News Agency

Azerbaijan seeks to gain Latvia’s agricultural know-how – deputy economy minister


BAKU: Azerbaijan is interested in gaining knowledge from Latvia in the agricultural and other economic fields that could be developed in the liberated areas, Azerbaijani Deputy Economy Minister Sahib Mammadov said at the Azerbaijan-Latvia Business Forum, Trend reports.

‘In Latvia, 30 percent of the land is allocated for agricultural development. We are keen on adopting this approach as we aim to incorporate Azerbaijan’s newly liberated territories into the agricultural cycle,’ Mammadov said.

He brought out the fact that 48 Latvian businesses are active in Azerbaijan at the moment, with a heavy emphasis on the agricultural sector.

During the business forum, Raivis Kronbergs, State Secretary of the Latvian Ministry of Agriculture, highlighted that Latvia is already exporting dairy and fish products to Azerbaijan and aims to expand cooperation in these areas.

‘We want to sign a memorandum of cooperation, which will broaden the base for cooperation,’ Kronbergs emphasized.

Executive Director of the Export and
Investment Promotion Agency of the Republic of Azerbaijan (AZPROMO), Yusif Abdullayev, said he would like to participate in the upcoming Riga Food 2024 exhibition this year.

According to Romans Naudinš, the Latvian External Adviser to the Minister of Agriculture, this forum in Baku marks the inaugural gathering for Azerbaijani and Latvian companies primarily focused on the production or processing of agricultural raw materials, with the potential for further meetings due to the substantial scope for mutually beneficial collaboration.

To note, five meat production companies, along with firms involved in fertilizer and fodder production, participated in the business forum from Latvia.

Representing Azerbaijan at the event were Azersun, Veysaloglu, AZZA, Gubre.az (fertilizers), SABA Group, Karvan-L, Bilasuvar Agro, and other entities.

Source: Trend News Agency

Slovakia reveals economic sectors for sharing expertise with Azerbaijan


BAKU: CEO of Slovak Investment and Trade Development Agency (SARIO) Robert Šimoncic has announced areas of cooperation in which Slovakia can share experience with Azerbaijan following a business forum in Baku, Trend reports.

‘Slovakia is developing energy, ICT, electronics manufacturing, automotive, space, and satellite technologies and is eager to share its knowledge. The CEO emphasized that today in Baku, they signed key agreements that established the framework for future partnerships.

He noted that Slovakia exported goods worth eight million euros to Azerbaijan in 2023 and imported goods worth one million euros.

‘Nevertheless, with the signing of the intergovernmental Agreement on Avoidance of Double Taxation in April 2024 (set to take effect from January 2025) and the recent agreements reached on May 7 in Baku, the trade volume between our nations is poised to rise,’ Šimoncic added.

To note, Baku is hosting the Azerbaijan-Slovakia business forum. 37 companies from Slovakia and 55 companies, state age
ncies, and organizations from Azerbaijan are present at the forum.

Source: Trend News Agency

Iranian currency to world’s currency rates for May 7


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

Iranian currency rate for May 5


BAKU: The Central Bank of Iran (CBI) posted an official foreign currency rate on May 5, Trend reports via the CBI.

Based on the bank’s currency exchange rate, 30 currency prices grew while 8 fell compared to May 2.

As for CBI, $1 equals 42,000 Iranian rials, and one euro equals 45,220 rials. On May 2, one euro was 44,855 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 478,444 rials, and $1 was worth 444,374 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 446,726 rials, and the price of $1 was 414,915 rials.

On the black market, $1 is worth about 610,000-613,000 rials, while one euro is about 657,000-660,000 rials.

Source: Trend News Agency