Iran may change policy to offer official rate dollar for imports

Business Materials 21 September 2012 17:03 (UTC +04:00)

Azerbaijan, Baku, Sep.21/ Trend F.Milad/

Iran may change the categories of goods that had been reported to be allocated official rate dollar (12,260 rials) for importation purposes, the director of the Iranian Trade Promotion Organization said.

Kiyumars Fathollah Kermanshahi added that the category 1 and the category 2 may be modified, the Mehr news agency reported.

The Central Bank of Iran has recently ordered all the branches to pay official rate dollar (12,260 rials) to importers just for importing a certain group of goods.

The goods include red and white meat, livestock, corn, barley, soy bean, edible oil, sugar, and milk powder.

The Central Bank has categorized the goods, which are to be imported, into ten overall groups, based on which official rate dollar is only allocated to the importers of the first priority category.

Importers of other goods are paid dollar at higher rates.

The Central Bank allowed trading in its currency at market levels after fixing the exchange rate in January as the threat of sanctions over the country's nuclear program and economic risks spurred Iranians to buy up dollars.

The bank on January 26 fixed the rate at 12,260 after the U.S. dollar surged to almost double that level in unofficial currency markets.