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TEHRAN, Iran — At present, Iran has both an official exchange rate and an unofficial market rate that is used in exchange houses. The rial trades at above 35,000 per US dollar on the open market, compared to the official rate of around 31,000.
To help boost economic growth, Central Bank of Iran (CBI) Governor Valiollah Seif has announced that he plans to unify the dual currency exchange rates before the end of the current Iranian calendar year (March 20, 2017). If realized, the move will be a major step toward effectively floating the rial and ending state control over the foreign exchange market.
