BAKU: The Central Bank of Iran (CBI) put up an official exchange rate for foreign currencies on May 11, Trend reports via the CBI.

Based on the bank’s currency exchange rate, 25 currency prices grew while 12 fell compared to May 9.

As for CBI, $1 equals 42,000 Iranian rials, and one euro equals 45,243 rials. On May 9, one euro was 45,170 rials.

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

The SANA system is the name given to the CBI’s announcement of the exchange rate to banks and exchange offices. One euro was equivalent to 483,445 rials and one dollar to 448,794 rials under this system.

NIMA is a scheme for selling a percentage of the foreign money earned from exports.

The price of one euro in this system amounted to 451,396 rials, and the price of $1 was 419,042 rials.

On the black market, $1 is worth about 608,000-611,000 rials, while one euro is about 655,000-658,000 rials.

Source: Trend News Agency