Economy, Business And Markets

Iran Launches Online Forex System

First Vice President Es'haq Jahangiri on Monday officially inaugurated the Forex Deals Integrated System, an online system designed to address the country's currency needs and boost transparency.
"This system is a new opportunity for importers to be able to get their required foreign currency easily and for exporters to offer their proceeds to the market," Jahangiri, accompanied by CBI Governor Valiollah Seif and Industries Minister Mohammad Shariatmadari, among others, was quoted as saying by IBENA.
In this system, locally known by the acronym Nima, importers declare their currency needs, exporters–including the government as oil exporter–register their foreign currency proceeds, and banks and money exchangers act as mediators. 


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