Economy, Business And Markets

New Government Policies Reduce Forex Demand in Iran

Long queues of people lining up to receive foreign currencies at cheap rates have vanished since the government signaled a major change in its forex policies last week
New Government Policies Reduce Forex Demand New Government Policies Reduce Forex Demand
The industries minister said registration order applications amounted to an astonishing total of $250 billion, which he called “unimaginable”

The implementation of new foreign exchange policies by the Iranian government has meaningfully curbed unnecessary demand for cheap currency, the industries minister said.  
Addressing a gathering of business leaders and officials in Tehran on Monday, Mohammad Shariatmadari also said that from April 10 when the government unified the exchange rates until Aug. 7 when it implemented new policies to liberalize forex trading, a large number of people had submitted import orders, but this changed when the new policies came into effect.


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