Economy, Business And Markets

New Rules Allow Direct Forex Sale

New Rules Allow  Direct Forex Sale New Rules Allow  Direct Forex Sale

Businesspeople that have validated their purchase orders are allowed to directly purchase their required foreign currencies from certified exchange shops through Nima, the Central Bank of Iran's newly-launched online Forex Deals Integrated System. 

The move, which became effective as of Tuesday as per a CBI directive, means businesspeople can directly purchase their currency from bureaux de change that had been barred from trading in foreign currencies since mid-April. 
"The rate is the same [unified USD rate of] 42,000 rials and no purchases or sales will be done outside this rate," an unnamed banking official who broke the news to Mehr News website said.
Saied Mojtahedi, the head of Iranian Association of Bureaux de Change, has welcomed the CBI move to allow moneychangers to use Nima.


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