$3b Worth  of Import  L/Cs in Q1
$3b Worth  of Import  L/Cs in Q1

$3b Worth of Import L/Cs in Q1

$3b Worth of Import L/Cs in Q1

The Central Bank of Iran said the total number of letters of credit opened for imports during the first quarter of the year to June 21 amounted to 3,447 that were worth $3 billion.  According to statistics published by CBI, 17,494 import L/Cs valued at $19.2 billion and export L/Cs worth $2.7 billion were opened during the year to March 20, IRNA reported. In August 2016, banks got permission to engage in foreign exchange trading at the free-market rate, in line with the government’s plan to unify exchange rates. The Cabinet in May 2017 also approved the details of the foreign exchange hedging directive proposed by the Export Guarantee Fund of Iran. A foreign exchange hedge transfers the foreign exchange risk from the trading or investing company to a business that carries the risk, such as a bank.

Short URL : https://goo.gl/9BUbJa
  1. https://goo.gl/j3C4Kb
  • https://goo.gl/sqmizM
  • https://goo.gl/GqQBJC
  • https://goo.gl/X8rWHN
  • https://goo.gl/29b91h

You can also read ...

Deposits made in investment funds are also subject to the latest central bank directive.
While more than a year has passed since bank deposit interest...
Iran-Azerbaijan Rail Linkup in 6 Months
A railroad connecting the Iranian Caspian port city of Astara...
Mohammad Baqer Nobakht
Head of Planning and Budget Organization Mohammad Baqer...
Chadormalu Mining and Industrial Company is one of the Middle East’s largest iron ore concentrate producers.
Iran’s Department of Environment has issued a permit for...
Bank Sepah Allocated $11b  From NDFI Forex Resources
Bank Sepah allocated $11.17 billion from the National...
Serbia Abolishes Visas for Iranians
The Serbian government on Tuesday passed a decision on the...
The Austrian software update will take until spring next year.
Austria’s Transport Minister Joerg Leichtfried said he had...
$10m Worth of Contracts Signed With Russians
Contracts worth more than $10 million in the fields of cement...

Add new comment

Read our comment policy before posting your viewpoints

Enter the characters shown in the image.