Economy, Business And Markets

$12b Earmarked for Imports Since Forex Rate Unification in Iran

$12 Billion Earmarked for Imports $12 Billion Earmarked for Imports

The government earmarked a total of $12.28 billion to all import of goods and services at the unified rate of 42,000 rials during the first 45 days since it unified the US dollar's dual exchange rate, the latest data show.
Of the total earmarked volume of $12.28 billion, banks paid out $6.42 billion to applicants.

The reason behind the major discrepancy in the earmarked and paid amounts is that Nima is still working out the kinks and applicants have to wait to receive their required currencies.

The normal waiting period for applicants is...


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