Iran to launch new Currency Exchange Center

The new Currency Exchange Center will start operating in Iran, as of February 21, 2023, Director General of Central Bank of Iran (CBI), Mohammad Reza Farzin wrote on his Twitter page.

According to Farzin, the mentioned Currency Exchange Center will provide all the real needs of the country in terms of foreign currency.

Then director general added that the Currency Exchange Center will also determine the price of foreign currencies and currency costs based on the country's reserves.

“The price of foreign currencies and gold will be determined based on the economic realities of the country,” he wrote.

Currently, the price of $1 is 42,000 Iranian rials and 1 euro is 44,923 rials.

Meanwhile, on the black market, $1 is currently worth 500,000 rials, while 1 euro is worth 536,000 rials.