Economy, Business And Markets
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Iran Gov’t Seeks Transparency in Foreign Exchange Allocation

Rouhani’s decree is the first of its kind in publicizing the list of those who received the subsidized currency
On Tuesday, the US dollar continued to lose ground in the unofficial market where exchange rates  were quoted at around 80,000 rials. On Tuesday, the US dollar continued to lose ground in the unofficial market where exchange rates  were quoted at around 80,000 rials. 
The controversy over hard currency allocation comes amid a volatile foreign exchange market where open market exchange rates staged an unprecedented bull run

President Hassan Rouhani announced on Tuesday that he has ordered the Central Bank of Iran and the Ministry of Industries, Mining and Trade to publish the list of all individuals and firms that have received hard currency at the official rate of 42,000 rials. 
The announcement comes after ICT Minister Mohammad Javad Azari Jahromi for the first time disclosed the list of handset and mobile device importers who had received foreign exchange at the official rate of 42,000 rials. The list struck a raw nerve with the public, which saw itself swindled by some of these companies who had sold their goods at the open market rate and pocketed huge profits. 

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