The Central Bank of Iran (CBI) has announced the official rate of foreign currencies on May 18, Trend reports referring to CBI.

According to the currency exchange rate of the Central Bank of Iran, 28 currencies have increased and 8 have decreased compared to May 16.

According to CBI, $1 equals 42,000 Iranian rials and 1 euro equals 45,466 rials.

In Iran, the official exchange rate is used for 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 183,773 rials, and the price of $1 is 169,829 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 169,197 rials, and the price of $1 is 140,329 rials.

In the black market, $1 is worth about 169,000-172,000 rials, while 1 euro is worth about 183,000-186,000 rials.

 

Source: TREND News Agency

Posted in Market May 18, 2020

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