Rate Unification This Year

The administration of President Hassan Rouhani will implement the longstanding policy of unifying Iran’s dual foreign exchange regime “at the first possible opportunity”, which will likely be during the current fiscal year ending March 2018, announced the governor of the Central Bank of Iran.”Rate unification is something that can be implemented easily and even its directives are ready to be notified,” Valiollah Seif was also quoted as saying by IBENA. However, he added that one of the main prerequisite of doing so will be for Iranian banks to be able to establish widespread correspondent banking relations with their international counterparts and only then will the central bank roll out the plan.