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Iranian MP: 35% of Iran's imports are illegal

Business Materials 4 July 2019 18:37 (UTC +04:00)

Baku, Azerbaijan, July 4

By Elnur Baghishov - Trend:

Some 30-35 percent of Iran's imports of goods are supplied to the country illegally, a member of the economic commission of the Iranian Parliament Ali Akbar Karimi said, Trend reports citing Fars News Agency.

Only about 4 percent of the illegally imported goods are detected, Karimi said, adding that 95 percent of these goods enter the Iranian market.

The main problem causing the illegal imports is the official USD rate in Iran, which equals to 42,000 Iranian rials, the MP said.

"Bank transactions of exporters and importers should be studied, because each of them has several bank accounts. The Central Bank of Iran should take measures so that everyone has one single bank account," he added.

In the last Iranian year (March 21, 2018-March 20, 2019), Iran imported 32 million tons of goods for $42.6 billion.

In Iran, the official exchange rate is used for the import of some essential products.

The SANA system is a system introduced by the Central Bank of Iran to the currency exchange offices, where the price of 1 euro is 146,751 rials, and the price of $1 is 127,226 rials on July 4.

NIMA is a system intended for the sale of a certain percentage of the foreign currency gained from export. The price of 1 euro in this system is 126,418 rials, and the price of $1 is 114,761 rials on July 4.

In the black market, on July 4, $1 is worth about 127,000-130,000 rials, while 1 euro is worth about 145,000-148,000 rials.

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