Iran (IMNA) - As per the CBI's statement, the average purchase price for the US dollar was set at 596,470 rials at the close of trading on Saturday. The bank reported that exporters contributed approximately $39.5 million of their earnings, out of a total of $70 million, to importers at this new rate, as noted by Press TV.
This newly established price will serve as the benchmark for the following day's trading activities in the same market, indicating its crucial role in shaping future official currency prices in Iran.
The CBI's initiative follows its announcement in early November regarding the launch of this new currency market, which allows exporters and importers to negotiate prices directly, replacing the previous system known as NIMA. Currently, the CBI maintains a rate of 285,000 rials per US dollar for essential imports, such as medicines. However, prior to this new market's launch on November 6, the NIMA price was reported at over 500,000 rials per dollar.
On Saturday, the market price for the US dollar exceeded 750,000 rials in Tehran, highlighting significant discrepancies between various exchange rates within the country.
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