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Importing goods with local currencies on the rise in Iran

Business Materials 14 January 2013 15:34 (UTC +04:00)

Azerbaijan, Baku, Jan.14/ Trend F.Milad

In the recent months requests to import goods with local currencies have been on the increase, Samad Karimi, Iran's Foreign Exchange Centre spokesman, said on Monday.

This is while dollar-based requests have decreased, the IRIB News Agency quoted Karimi as saying.

Some 13,233 applications were registered at Iran's Forex Centre up till January 11.

The foreign exchange centre was officially inaugurated on September 24. It aims at allowing importers of goods including truck tyres, construction equipment and synthetic fibres to buy dollars at a rate two per cent cheaper than the street rate at any given time.

The dollar price had reached 40,000 rials in October, but by the inauguration of the foreign exchange centre, prices fell to 27,000 rials.

The government maintains an official reference rate of 12,260 rials to the dollar, but only a limited amount of foreign exchange is available at this rate.

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