The Central Bank of Iran released fresh data on October 29, showing notable movements in Iran currency rates. According to the report, 41 foreign currencies gained value, while only four lost ground. As a result, traders witnessed renewed volatility in the Iranian foreign exchange market. The official rate for one US dollar stands at 567,632 rials. Meanwhile, one euro now trades at 661,774 rials, compared to 658,270 rials the day before. Therefore, the rial continues to face pressure amid inflation, limited oil exports, and global uncertainty.
In the SANA system, licensed exchange offices sell one dollar for 726,798 rials and one euro for 847,338 rials. This platform was designed to reflect actual market behavior more accurately. Moreover, it encourages transparency and helps reduce dependency on informal market activity. At the same time, the NIMA system focuses on currency derived from exports. It recorded the euro at 822,658 rials and the dollar at 705,629 rials. In this framework, exporters return a portion of their foreign earnings to Iran’s regulated channels. Consequently, NIMA strengthens liquidity and supports legitimate trade operations.
However, a sharp divide remains between official and street markets. On the black market, one dollar trades between 1.04 and 1.07 million rials. Similarly, the euro ranges between 1.21 and 1.24 million rials. Therefore, the difference highlights the challenges of stabilizing Iran currency rates despite ongoing interventions. Many economists link these gaps to inflation, sanctions, and reduced global financial access. Furthermore, they emphasize that external restrictions have squeezed Iran’s foreign reserves. As a result, the Central Bank must juggle short-term control with long-term reform goals.
Analysts also argue that unifying multiple exchange rates could improve confidence and transparency. In their view, a single rate would reduce arbitrage and speculative activity. Additionally, it would simplify pricing for businesses engaged in imports and exports. The Central Bank continues to monitor the market closely. It adjusts liquidity levels, supervises exchange offices, and seeks to limit illegal trading. Meanwhile, authorities remain committed to maintaining public confidence in the rial’s value.
Even so, traders report uncertainty across many sectors. Because of fast rate changes, importers struggle to plan costs, and exporters hesitate to finalize deals. Consequently, the business environment remains tense and unpredictable. Going forward, experts expect further currency fluctuations. Much will depend on global oil prices, political negotiations, and regional stability. Nevertheless, the Central Bank aims to maintain stability while pursuing gradual reforms.
In the near future, policymakers are likely to strengthen supervision and expand official exchange access. Through these steps, they hope to narrow the gap between official and parallel markets. Ultimately, Iran’s currency market remains in transition. The October 29 data reveal both progress and persistent challenges. Yet with stronger policies and continued oversight, Iran currency rates may gradually move toward greater balance and transparency.