Business And Markets

Iran’s CB Suspends ‘Currency Quota’

CBI Suspends ‘Currency Quota’ CBI Suspends ‘Currency Quota’

The Central Bank of Iran on Wednesday temporarily suspended allocation of $2,200 or equivalent in foreign currency at relatively less rates to the people after price arbitrage with the free market caused new problems.
To calm the chaotic currency market, in the summer of 2018 the CBI imposed restrictions on the sale of currency to the people, mostly those travelling overseas, to fight speculative activities, IRNA reported. 
As per law, Iranians were able to buy not more than $2,200 (or equivalent) in one year from authorized moneychangers by showing their ID cards. 


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