Exchangers Await CBI Decision

Representatives of the Iranian Association of Bureaux de Change will soon hold a meeting with Central Bank of Iran’s officials to decide the fate of foreign exchange shops and the role envisaged for them. In its latest directives, CBI has announced that exchangers are prohibited from buying and selling hard currency until further notice and will strictly transfer foreign currencies received from banks certified by CBI to designated groups such as students and patients traveling overseas for health treatment. “We cannot close our eyes to currency demand for contraband and money laundering, so currency demands need to be sorted,” Saeed Mojtahedi also told IRNA in support of CBI’s move. He called on certified exchange shops that are members of his association to be patient and wait for new instructions.