Business And Markets
0

New Rules Appear to Ease Forex Rules for Exporters

New Rules Appear to Ease  Forex Rules for Exporters
New Rules Appear to Ease  Forex Rules for Exporters

The Trade Promotion Organization of Iran announced new rules Wednesday for repatriating forex earnings from exports in the current fiscal year that ends March 2022. 
It was prepared and published by the Ministry of Industries, Mining, and Trade and it seems the Central Bank of Iran was sidelined in the entire process.
The rules call for diversifying repatriation methods to assist export companies.  While offering export proceeds at the secondary foreign exchange market, known as Nima, is one of the options available to exporters, the guidelines put an end to the controversial obligation on some exporters to sell their currency earnings at Nima. 

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