TEHRAN—The Central Bank of Iran (CBI) announced updated foreign currency exchange rates on October 9, indicating a notable increase in the value of several currencies against the rial, with the official rate setting $1 at 442,327 Iranian rials.

According to Trend News Agency, via the CBI, a total of 39 currencies saw an increase in their value relative to the Iranian rial, while six experienced declines from the previous day. The euro also rose slightly in the official exchange, now valued at 485,254 rials compared to 484,075 rials on October 8.

In addition to the official rates, the CBI employs the SANA system for currency transactions at exchange offices, where the euro and dollar are traded at higher rates. Under this system, one euro costs 547,918 rials, and one dollar costs 499,448 rials. Furthermore, the NIMA system, which is used for selling a portion of foreign currency earnings from exports, lists the euro at 520,834 rials and the dollar at 474,760 rials.

The disparity between these rates and the black market is significant, where one dollar is currently trading between 624,000 and 627,000 rials, and one euro is fetching approximately 684,000 to 687,000 rials, highlighting ongoing economic pressures and the parallel currency markets in Iran.