Seventy days after the government decided to unify the US dollar's exchange rate at 42,000 rials and assure importers that all hard currency needs would be fulfilled at that rate, it is abandoning those promises in favor of a more restricted list eligible to receive foreign exchange at that cheap rate.
Central Bank of Iran Governor Valiollah Seif has affirmed that as per the new forex policy, the government will soon prioritize and classify imported goods into three categories.
June 22, 2018 19:58
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Iran Gov't Restricts Access to Cheap Forex
Based on the decision announced after late Tuesday’s Money and Credit Council session, foreign exchange will only be allocated to goods branded as “essential and vital”, “raw materials and intermediate goods” and “goods with lower priority”
Another reason for the government restricting access to cheap currency is the huge wave of demand for imports triggered after the unification decision
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