Business And Markets
0

Central Bank of Iran Eases Currency Rules for Exporters

Central Bank of Iran Eases Currency Rules for Exporters Central Bank of Iran Eases Currency Rules for Exporters

The Central Bank of Iran has announced a new set of rules for repatriation of export earnings in the current fiscal (March 2019-20). 
In a directive published on the CBI website Monday, it outlined procedures for returning export earnings from the previous fiscal (March 2018-19) and recommended ways to non-oil exporters on how to fulfill their currency commitments.  
In general terms, the new policies appear to be more favorable to exporters as they lack the ambiguities of previous procedures, which at times confused traders over the extent of their currency commitments. 
For example, the CBI had set multiple ceilings for currency earnings and obliged exporters to return a portion of it based on declared ceilings.  

Premium

Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Add new comment

Financialtribune.com