Tehran: The Central Bank of Iran (CBI) announced updated foreign exchange rates on October 17, showing a mix of increases and decreases across different currencies compared to the previous day, as reported by Trend News Agency.

According to Trend News Agency, the CBI detailed that 12 currencies had appreciated while 31 had depreciated in value against the Iranian rial from October 16 to October 17. The official exchange rate set by CBI on October 17 was 444,694 Iranian rials for $1, and 483,479 rials for one euro. In comparison, on October 16, one euro was slightly higher at 484,801 rials.

The CBI uses multiple systems to manage currency transactions. Under the SANA system, which is employed in currency exchange offices, the rates were notably higher with one euro costing 545,747 rials and $1 priced at 501,967 rials. Another system, NIMA, which is used for selling a portion of the foreign currency earnings from exports, listed the euro at 526,275 rials and the dollar at 484,057 rials.

In contrast, the blac
k market rates were considerably higher, with $1 trading between 633,000 to 636,000 rials and one euro fluctuating between 687,000 to 690,000 rials.