Economy, Business And Markets
0

$239m Supplied to Meet Public Forex Demand

$239m Supplied to Meet Public Forex Demand $239m Supplied to Meet Public Forex Demand

The Central Bank of Iran has supplied $239 million over the past three months at the official exchange rate to satisfy public demands for foreign currency to pay for medical, educational, transportation and other services. Following a sharp plunge in the rial against the US dollar early April, the government tightened its control over the market by setting an official rate at 42,000 rials and limiting the supply of currency, an IRNA report said on Saturday. The tightened policy designated 33 groups as eligible to receive cheap foreign currency, including those sitting for international exams, patients seeking health treatment overseas, professors attending international conferences, people traveling abroad and transit drivers.

Premium

Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Add new comment

Financialtribune.com