TEHRAN – The Central Bank of Iran (CBI) has updated its official exchange rates for various foreign currencies as of September 17, reflecting significant fluctuations in the value of the Iranian rial against major currencies.

According to Trend News Agency, the CBI reported changes in the prices of 76 currencies, with 45 experiencing increases and 31 witnessing declines compared to the previous day’s rates. As stipulated by the bank, the official exchange rate for the US dollar is now 433,072 Iranian rials, while the euro stands at 481,652 rials, marking a slight increase from 480,711 rials on September 16.

The CBI utilizes the SANA system for transactions at currency exchange offices, where the euro is currently valued at 547,482 rials and the US dollar at 494,360 rials. Additionally, under the NIMA system, which is designed for the sale of foreign currency earnings from exports, the euro and US dollar are priced at 510,235 rials and 460,727 rials, respectively.

Contrasting these official rates, the black market shows a considerable premium with the US dollar trading between 588,000 and 591,000 rials, and the euro fetching between 654,000 and 657,000 rials. These disparities underscore the ongoing economic challenges and market volatility impacting Iran’s financial stability.