Exchange Rates Will Emerge?

Exchange

There are two exchange rates used in Iran: official rate, 1 USD equal to 30,449 IRR, and market price, 1 USD to 34710 IRR, making the current gap to be 13.9%, almost 3 percentage-points less than a year ago.

The Government hopes to merge the two prices, but the way seems to be long.

According to Central Bank of Iran, the gap between the two rates in the last Iranian fiscal year 1394, i.e. from 21 March 2015 to 20 March 2016, reached 16.6%, experiencing 7% decrease respect to a year before that, i.e. 1393.

There have been periods in which official exchange rate and the market price were very close but the gap has never been zero.

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Statistics Sources: Central Bank of Iran