The Central Bank of Egypt (CBE) has reduced the official rate
of the pound against the dollar by 10 piasters during a hard currency tender on Thursday to EGP 7.
1 percent lower than Wednesday's official rate
of CNY 6.
The farmers were forced to sell their crop at Rs 1150 per 40 kg to middleman instead of the official rate
, Rs 1300 per 40 kg, he added.
Iran currently has two exchange rates--the official rate
set daily by the government that does not move very much and is currently 28,250 rials to the dollar, and the open market rate, which shifts hourly and is currently around 33,000 rials to the dollar.
Egypt's central bank widened the band in which banks can trade dollars to 10 piasters above or below the official rate
, up from 3 piasters, bankers said on Thursday, prompting the lenders' dollar rates to fall to their weakest ever levels.
The official said, 'What happened is that the governor after he was summoned by the parliament, decided in consultation with the minister of finance to seek the way out, which is ameliorate the effect the differences between the official rate
and the black markets had cost the economy and people of the country.
Venezuela is only providing dollars at the official rate
5% compared with the Bank of England's official rate
8 percent, because of medical expenses such as Medicare premiums, deductibles and other costs not accounted for in the official rate
The highest official rate
of unemployment is registered in Naryn region, 6.
Iran's central bank has eliminated a subsidised, cheaper rate for foreign currency and reported a weaker official rate
in its place, according to Iranian media and the central bank's website on Saturday.
Since 8 January the CBA raised the official rate
up to AZN 0.