Iran may launch Forex centres in other provinces

Business Materials 15 January 2013 13:06 (UTC +04:00)

Azerbaijan, Baku, Jan.15 / Trend F.Milad/

Iran may decide to launch new Forex centres in other provinces, deputy director of the Trade Promotion Organisation of Iran said on Tuesday.

The Central Bank of Iran has announced that it may approve the launching of new foreign exchange centres in major provinces to facilitate the process of buying dollars for importers, the ISNA News Agency quoted Kioumars Fathollah Kermanshahi as saying.

Iran's Foreign Exchange Centre spokesman Samad Karimi said on Monday that in recent months the requests for importing goods with local currencies have increased. It is while dollar-based requests have decreased, he said.

The Iranian Economy and Finance Minister Shamseddin Hosseini also said on Monday that Iran plans to omit the dollar and euro from its economic transactions in the future and rely on local currencies for trade.

He went on to note that following the US-generated sanctions, the Central Bank of Iran shifted its foreign exchange reserves to euros and gold which proved to be very profitable.