TEHRAN: Iran’s Central Bank has released the latest official currency exchange rates, reflecting changes across several different exchange mechanisms, including the SANA system and the NIMA platform, as reported by Trend News Agency.

According to Trend News Agency, the Central Bank of Iran (CBI) updated its official exchange rates for multiple foreign currencies on October 13. The bank noted that 45 currencies increased compared to their values on October 12. Under the new rates set by CBI, one US dollar is now equivalent to 440,764 Iranian rials, and one euro equals 482,179 rials, marking a slight decrease from 485,008 rials the previous day.

The CBI has continued to utilize the SANA system for currency exchange, which is specifically designed for exchange offices. In this system, the cost of one euro has been set at 547,650 rials and one US dollar at 500,612 rials. Additionally, the NIMA system, which is used for selling a portion of the foreign currency earnings from exports, lists one euro at 524,068 ri
als and the US dollar at 479,055 rials.

Significant disparities continue to exist between the official rates and those on the black market, where one US dollar is trading for approximately 623,000 to 626,000 rials, and one euro is around 682,000 to 685,000 rials. These differences highlight the ongoing challenges and fluctuations in Iran’s currency market.