Economy, Business And Markets

Subsidized Currency for Specified Imports

Subsidized Currency for Specified Imports Subsidized Currency for Specified Imports

The head of Management and Planning Organization has presented the list of imported goods eligible to receive foreign currency at subsidized rates. Mohammad Baqer Nobakht, in letter to the ministers of health, agriculture and industries, capped the amount to be allocated at subsidized rates at 30 trillion rials ($714 million). According to IBENA, the list includes essential goods, medicine, corn, oilseeds, cattle and poultry vaccines, livestock and pesticides. Paper, raw material for paper and milk powder are other goods that will receive foreign exchange at a rate cheaper than 42,000 rials. The government has announced that it unified the exchange rate of the US dollar at 42,000 rials in response to the sharp plunge of the Iranian rial in the recent past. It has assured the public that the US dollar for all purposes, including imports, travel, students and research projects, will be offered by the government without any limit at the exchange rate of 42,000 rials. 


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