Surge in Bank Melli Iran's Forex Services

Bank Melli Iran’s foreign exchange trading services, which include opening lines of credit and processing foreign exchange remittances for importing commodities, have registered respective year-on-year increases of 173% and 95.5% in terms of value and number respectively during the first five months of the new Iranian year (started March 21), BMI’s website reported. During the period, the bank has issued a total number of 4,809 import and export remittances worth $1.738 billion. BMI’s branches have also sold more than 272,000 travel currency remittances, marking an increase of 147,000 counts or 84.7% compared with the same period of last year.