Travel
0

More Orderly Shape Awaits Travel Sector

Even though those who have their travel plans just around the corner will incur losses, the new forex policy is expected to gradually reduce travel costs
Travelers will obtain their currency at exchange shops at a rate 5% higher than what supply and demand will set.  Travelers will obtain their currency at exchange shops at a rate 5% higher than what supply and demand will set.
Once enforced, those fake travelers who served the interest of other groups by proffering their allocated currency will be eliminated

Following the implementation of new forex policies as part of which subsidized foreign currency for overseas trips will be phased out, the outbound travel market is expected to face a slump for a while but begin to pick up again at more reasonable costs, according to the Travel Agents Guild Association. 
Akbar Ghamkhar, a member of the association, said foreign journeys will gradually become cheaper once the forex market stabilizes, ISNA reported. 
"Even though those who have their travel plans just around the corner will incur losses, the costs of traveling abroad will gradually go down after a period of 10 to 20 days," he said.
Those heading for neighboring and distant countries could receive €500 and €1,000 respectively at the official rate, but the currency will be provided at free market rates as per the new package that was to take effect on Tuesday. 
 

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