Iran's Central Bank Updates Exchange Rates Amid Market Fluctuations

The Central Bank of Iran (CBI) has released new official exchange rates for foreign currencies as of August 5. According to the CBI, the value of 43 currencies increased compared to August 3, while three currencies fell.

The official rate for $1 is now 1,498,135 rials, up from 1,487,630 rials on August 3. The euro has also seen a rise in value, with one euro now worth 1,726,771 rials compared to 1,714,968 rials the previous day.

The CBI uses the SANA system for currency exchange offices, which sets the rate for $1 at 1,537,043 rials and for one euro at 1,771,617 rials. On the black market, however, $1 is worth around 1.89-1.92 million rials, while one euro is valued at 2.18-2.21 million rials.