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Iran to boost euro and yuan supplies at Forex Center

Business Materials 20 February 2013 14:57 (UTC +04:00)

Azerbaijan, Baku, Feb.20 / Trend F.Mehdi/

The Forex Center of Iran will be supplied with large amounts of euro and yuan next week to meet demands of importers with foreign currency as much as they need, the Mehr News Agency reported, citing an unnamed official.

The central bank governor has ordered providing importers at the Forex Center with euro and yuan in sufficient amounts, the official said.

"Accordingly, the supply of ruble and dollar will be limited," he added.

The new foreign exchange center was officially inaugurated on September 24. Some 17,356 applications have been registered at the center so far.

The new center allows importers of goods including truck tires, construction equipment and synthetic fibers to buy dollars at a rate 2 percent cheaper than the street rate at any given time.

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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