The Central Bank of Iran (CBI) announced new official foreign exchange rates effective July 1, reflecting a nominal depreciation of the Iranian rial against several key currencies. The dollar’s official rate rose to 1,340,207 rials per USD, up from 1,329,909 rials the previous day. Similarly, the euro climbed to 1,530,043 rials, compared to 1,519,197 rials at the end of June.
Overall, the bank reported that 46 currency values increased against the rial. Notable adjustments included the British pound at 1,776,720 rials and the Swiss franc at 1,658,059 rials, reflecting a continued trend of currency depreciation in Iran’s official exchange market.
The CBI also adopted rate listings from the SANA system, used by currency exchange offices. Under this system, the euro was priced at 1,685,802 rials and the dollar at 1,476,640 rials, higher than the Central Bank’s official figures. Meanwhile, parallel market rates remained significantly weaker, with the dollar trading between 1.73 and 1.76 million rials and the euro fluctuating around 1.97 to 2 million rials.
This divergence highlights the persistent gap between Iran’s official exchange rates and the unofficial black market, a dynamic influenced by external sanctions and currency controls that affect liquidity and investor confidence.
Other currencies adjusted accordingly: the Kuwaiti dinar reached 4,325,775 rials, the Omani rial 3,482,141 rials, and the Bahraini dinar 3,564,380 rials. Regional currencies such as the UAE dirham and Saudi riyal also saw increases, setting new official pegged rates for July.
This monthly update is crucial for businesses, importers, and market participants who rely on official benchmarks for transactions and financial planning amid ongoing economic volatility in Iran.