With the easing of sanctions, foreign exchange services of Bank Melli Iran have experienced a significant rise, the bank announced. In the first three months of the current fiscal year ending June 20, the bank’s letters of credit registered a ninefold increase in number and a tenfold growth in value compared with the same period of last year. On payment orders pertaining to imports, the bank registered a respective increase by 2.5 and 3 times, IBENA reported. BMI also provided hard currency to 90,000 pilgrims and travelers at a subsidized rate, marking a 100% increase year-on-year.
