Economy, Business And Markets

Imminent Change in Iran's Travel Currency Policy

Imminent Change in Travel Currency PolicyImminent Change in Travel Currency Policy

The Central Bank of Iran is expected to change its policy of giving foreign currencies to people traveling overseas at subsidized rates as soon as next week, in the face of growing public pressure and criticism.
“Based on negotiations, revisions are to be made regarding the allocation of government currency to outbound travelers by the central bank by the end of the current [Iranian] month [on July 22],” Yonathan Betkolia, a member of Majlis Development Commission, told IBENA.
He said the cheap currency allocation has “created an unfavorable trend by helping the growth of tourism industry in some neighboring nations”, in addition to encouraging black market activities as “many get the currency from the government and sell it in the black market”.


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