BAKU, Azerbaijan, The Central Bank of Iran (CBI) announced an official rate of foreign currencies on October 16, Trend reports referring to CBI.

According to the currency exchange rate of the Central Bank of Iran, 13 currencies increased and 19 have decreased in price, compared to October 15.

According to CBI, $1 equals 42,000 Iranian rials and 1 euro equals 40,835 rials.

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

SANA system is a system introduced by the Central Bank of Iran to the currency exchange offices, where the price of 1 euro is 279,782 rials, and the price of $1 is 287,764 rials.

NIMA is a system intended for the sale of a certain percentage of the foreign currency gained from export.

The price of 1 euro in this system is 265,501 rials, and the price of $1 is 273,076 rials.

On the black market, $1 is worth about 327,000-330,000 rials, while 1 euro is worth about 318,000-321,000 rials.

Source: TREND News Agency