BAKU, Azerbaijan, The Central Bank of Iran (CBI) announced an official rate of foreign currencies on October 24, Trend reports referring to CBI.

According to the currency exchange rate of the Central Bank of Iran, 16 currencies increased and 11 have decreased in price, compared to October 23.

According to CBI, $1 equals 42,000 Iranian rials and 1 euro equals 41,424 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 284,043 rials, and the price of $1 is 287,991 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 270,332 rials, and the price of $1 is 274,089 rials.

On the black market, $1 is worth about 324,000-327,000 rials, while 1 euro is worth about 316,000-319,000 rials.

Soured: TREND News Agency