No more multi exchange rate in Iran
Up until March 2002 there was a multi exchange rate in place in Iran which governed the currency rate Iran money was being exchanged for. The official floating exchange rate was one of these rates within the multi exchange rate system and this was one of the rates that were used for the import of the most essential goods. However they were of course other rates that were used and anyone who previously wanted to send money to Iran needed to be aware of this. By switching to a single rate Iran were able to work toward eliminating the black market and boosting the economy at the same time.

Avoid the street exchange rate in Iran
Although the unofficial street exchange rate is now more in line with the official exchange rate it still never as good as the official rate. This rate tends to be used between smaller businesses and anyone who wishes to arrange a private transaction. So if you are in the process of arranging a currency transfer to Iran you need to be aware of this as your recipient could miss out if he or she uses a street exchange rate to exchange their money.

Important info for foreign exchange in Iran
The most popular currencies foreign-exchange on the streets of Iran is the US dollar. With this in mind that many people arrange a currency transfer to Iran in this currency. People wanting to exchange cash should have $100 bills as these are widely accepted by most of the places who exchange foreign currency.

Copyright 2018 :: Compare Prepaid :: All Rights Reserved 27D Bruce Street, Dunfermline, Fife KY12 7AG. +44 (0) 843 886 9544 - Email Us