New Forex Regulations for Foreign-Based Students

The Central Bank of Iran issued new regulations governing the allocation of foreign currency to Iranians studying overseas, two months after the government tightened its control over the currency market to curtail a spiraling crisis. Under the new amendments, undergraduate students are eligible to receive foreign currency to pay for college tuition and accommodation fees for the current and future terms, CBI said on its website.  Postgraduates are entitled to receive up to $15,000 or their equivalent in other currencies, provided they enclose with their application form a university-certified copy of the detailed list of expenses.