The supply of foreign currency at the secondary foreign exchange, known as Nima, has increased by 66% in the past 11 months ending Feb. 19 compared with the corresponding period of last year.
According to a note posted by Mostafa Qamari-Vafa, the head of CBI’s Public Relations Department, non-oil exporters have sold $26.3 billion at Nima during the period under review.
In the Nima system, importers declare their currency needs, exporters register their currency proceeds, and banks and authorized moneychangers act as dealers.
As per rules, non-oil exporters have to bring back a portion of their earnings in foreign exchange hawala and sell it via Nima. They also can sell their currency to authorized exchange shops.
In his note posted on his Twitter account, the official added that a total of $50 billion have been procured via Nima and CBI for import.
The allotted currency for import indicates a 56% rise compared with the first 11 months of the previous fiscal year.
The senior banking official said foreign trade has expanded during the period in tandem with the rise in supply of currency for import.
Iran's foreign trade, excluding crude oil exports, stood at 149.4 million tons worth $90 billion during the 11 months, registering a 12% and 38% growth in tonnage and value year-on-year.
According to Foroud Asgari, the deputy head of the Islamic Republic of Iran Customs Administration, exports stood at 112.65 million tons worth $43.52 billion, registering a 10% and 40% YOY growth in weight and value respectively, Fars News Agency reported.
Imports stood at 36.77 million tons worth $46.57 billion, registering a 19% and 36% YOY increase in volume and value respectively.