Currently, about 700 licensed money exchange shops are active throughout Iran and each of them has entered the market with a minimum capital of 40 billion rials ($953,000), the head of the Iranian Association of Bureaux de Change said. “Hundreds or perhaps thousands of people, bureaus or firms that continuously engage in unofficial foreign exchange operations are underground units without any banners,” Saeed Mojtahedi was also quoted as saying by IRIB. He added that his association is not tasked with supervising over or confronting these uncertified operators, as the responsibility falls with the Central Bank of Iran, law enforcement officials and other government entities that are entitled to fight illegal foreign exchange activities.
