VES/IRR (Central Bank of the Islamic Republic of Iran)

The official exchange rates of foreign currencies against the Iranian Rial are established by the Central Bank of the Islamic Republic of Iran (CBI) on a daily basis on working days (Saturday through Thursday). The rates are published on the regulator's official website between 08:00 and 09:00 local Tehran time (IRST). The established official (subsidized) rate serves a strictly designated purpose and is exclusively applied to subsidized imports of essential goods (such as basic food staples, medicine, and critical equipment), the settlement of sovereign external debts, and official customs, tax, and accounting reports within the public sector. The official CBI exchange rate is not utilized by commercial banks, exchange offices, private businesses, or tourists (commercial and retail transactions rely on the NIMA and SANA systems, or the open market rates). The publication of these rates fulfills an informational and regulatory function for state-sanctioned purposes only and imposes no obligation on the Central Bank to buy or sell foreign currency at these quotes to individuals or unauthorized corporate entities.