The Islamic Republic of Iran is to enforce a single exchange rate today, the central bank governor said. “From Saturday, there will be a single fixed rate for the dollar which will be 12,260 rials,” Mahmoud Bahmani said. “This rate is valid for all transactions and authorised imports… as well as for students abroad or those travelling,” he said. Iran previously had two official exchange rates: one of 11,300 rials to the dollar at the bank for state operations and official imports, and a variable rate for businesses and individuals to purchase from foreign exchange offices.