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Exchange rates for the euro in Iran * / EUR 1 = IRR ... (middle)

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  1. Exchange rates, euro foreign exchange reference rates, gold prices
  2. Exchange rates in individual countries
  3. Yearly average
  4. EUR Euro
  5. IRR Iranian rial (Iran, Islamic Republic of)
CSV SDMX-ML 2.0 SDMX-ML 2.1
Time series key BBEX3.A.IRR.EUR.CA.AC.A04
Unit IRR
Dimension one
Timespan from 1999 to 2023
Last update 12.01.2024 02:13:14 PM
   
General * Until February 2002: so-called non-oil export rate; March 2002 - June 2013: reference rates. Thereafter official exchange rates respectively Central bank rates. Bureau de change rates since 2012, see BBEX3.A.IRR.EUR.CA.AC.B04. Iran used a multiple exchange rate system. On 21 March 2000, the export rate was replaced by the non-oil export rate. This was the floating rate at which exporters had been able to sell their currency earnings on the Tehran Stock Exchange for some time. 1. Exchange rate used until 20 March 2002: 1.1. Official exchange rate (USD 1 = IRR 1,750 / 1,755): for earnings from crude oil exports which are used to pay for the import of essential goods and services, for priority projects and for servicing government debt. 1.2. "Non-oil export rate": for other foreign exchange transactions. On 21 March 2002, the multiple exchange rate system was standardised on the basis of the non-oil export rate. Since then, the Iranian central bank has published (daily) reference rates. From the end of 2011, the spread between the reference rate and the parallel market rate, which has been used by the foreign exchange bureaux for some time, has widened considerably. A new official exchange rate was introduced on 3 July 2013 to be used for exporting refined petroleum products and importing essential goods. Up until 9 April 2018, the bureau de change rates were used for exporting other goods as well as importing non-essential goods and services. On 10 April 2018, the multiple exchange rate system was harmonised and a binding central bank rate was established for all transactions. However, shortly after that, there were again a number of changes to the exchange rate system. As we have only incomplete information on the extensive changes and regulations, the information provided below on applying exchange rates is intended merely as a guideline. 1. Exchange rate application from mid-June to the beginning of August 2018: 1.1. Rate for strategic products: for goods with a high priority that were imported solely on behalf of the government, the exchange rate was 38,000 rials to the US dollar. These goods included important food products, industrial intermediates, components and machines. 1.2. Central bank rate: for importing medium-priority goods (e.g. rice). 1.3. Market rate (as of the beginning of July 2018): for importing low-priority goods. This was an exchange rate that was freely negotiated between importers and exporters; settlement took place via exchange bureaus. On 8 July 2018, this rate stood at 94,000 rials to the euro. 2. Exchange rate application since 6 August 2018: 2.1. Central bank rate: for importing selected goods or categories of high-priority goods (rice, wheat, meat, eggs, soy flour and soya beans, corn, barley, edible oils, raw sugar, oilseeds, beans, dried tea, synthetic fertilisers, pesticides, seeds, pharmaceuticals, medical technology, veterinary medicine, paper, pulp and tyres for HGVs as well as machines for manufacturing and processing food). The exchange rate stands at 42,000 rials to the US dollar. 2.2. NIMA rate (see https://www.sanarate.ir/Default.aspx): for other, non-specified goods imports and almost all imported services. At the end of August 2018, the rate was between 80,000 and 90,000 rials to the US dollar. The exchange rate is to be freely negotiated between importers and exporters. However, access to the electronic platform NIMA is possible only for certain importers as well as exchange bureaus. 2.3. Bureau de change rate: used in addition to the regulated central bank and NIMA exchange rates; including for travel, tuition fees at foreign universities, medical treatment abroad and legal fees abroad. The rate is determined by licensed exchange bureaus that obtain foreign currency primarily via the NIMA platform. Selling foreign currencies via exchange bureaus is also highly regulated. The term "toman" (an old Persian currency) is also used to denote 10 Iranian rials.
Methodology Calculated on the basis of month-end rates.
Source Bank Markazi Jomhouri Islami Iran, Tehran (exchange rates), German embassy, Tehran (exchange rate application), International Monetary Fund, Washington (exchange rate application up to 9 April 2018) and press information provider (exchange rate application).
   
Comment on 2018 The annual average is due to several changes in the exchange rate regime only of limited informative value. On 10 April 2018, a fixed exchange rate against the US dollar was introduced. We recorded the following exchange rates: 9 April 2018: EUR 1 = IRR 46,414 10 April 2018: EUR 1 = IRR 51,709. Calculated using these exchange rates, the Iranian rial experienced a devaluation of 10.2% against the euro.
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