Tehran: The Central Bank of Iran announced updated exchange rates for various currencies on October 16, reflecting slight fluctuations from the previous day.

According to Trend News Agency, the Central Bank of Iran’s official report highlighted that out of 45 reviewed currencies, 43 experienced an increase in value against the Iranian rial, while 2 showed a decrease compared to rates on October 15. The bank’s data shows that the US dollar was pegged at 444,780 rials and the euro at 485,801 rials. In comparison, on October 15, one euro was valued at 482,191 rials, indicating a moderate rise within a day.

The CBI employs the SANA system for currency exchange offices, where the euro and the US dollar rates were higher compared to the official bank rates: one euro cost 547,021 rials and one US dollar was exchanged for 501,864 rials. Another platform, NIMA, which is utilized for selling a portion of foreign currency earnings from exports, listed the euro at 526,488 rials and the dollar at 483,026 rials.

In cont
rast, the black market rates stood significantly higher, with the US dollar trading between 628,000 and 631,000 rials and the euro fluctuating between 684,000 and 687,000 rials.