TEHRAN-The Central Bank of Iran (CBI) updated its official foreign currency exchange rates on September 22:he Central Bank of Iran (CBI) updated its official foreign currency exchange rates on September 22, recording a notable rise in the euro’s value, Trend News Agency reported via the CBI. According to the bank’s latest update, the euro’s price at the official rate increased compared to its value on September 19.

According to Trend News Agency, the CBI reported that prices for 40 different currencies increased, while five decreased. The bank listed the new official rate of one euro at 490,832 Iranian rials, up from 487,091 rials just three days prior. In contrast, the U.S. dollar is valued at 439,587 rials. The SANA system, which is used for currency exchange offices, listed one euro at 553,259 rials and one U.S. dollar at 495,496 rials. Additionally, the NIMA system, which handles a portion of foreign currency from exports, recorded the euro at 516,581 rials and the dollar at 462,648 rials.

The discrepan
cy between official and market rates is significant, with the black market rate for one U.S. dollar ranging between 590,000 and 593,000 rials and one euro fetching between 660,000 and 663,000 rials.