Tehran: The Central Bank of Iran (CBI) has announced the official exchange rates for various foreign currencies for October 29. This announcement reflects changes in the exchange rates for 46 currencies, with 44 experiencing a decrease and two showing an increase compared to the previous day, October 28.

According to Trend News Agency, the CBI has determined that $1 is equivalent to 446,440 rials, while one euro stands at 483,017 rials. This marks a slight decrease in the euro’s value from the previous rate of 483,516 rials on October 28.

The Central Bank of Iran utilizes the SANA system for currency exchange offices. Under this system, the cost of one euro is set at 546,649 rials, and $1 is priced at 505,254 rials. Additionally, the NIMA scheme, which is employed for selling a portion of the foreign currency obtained from exports, sets the euro at 531,760 rials and the dollar at 491,492 rials.

In contrast, the black market rates show a higher valuation for these currencies. On the black market, $1 is trad
ed at approximately 674,000 to 677,000 rials, while one euro ranges between 729,000 and 732,000 rials.