TEHRAN, Iran, Dec.2
Trend:
Iran's NIMA system has received around 1.2 billion euro of export-earned revenues in October 2019, Trend reports citing IRNA.
The integrated Iranian FX platform, aka NIMA, is aimed at facilitating the currency trades for market participants. It was launched in April 2018.
Foreign currency sales through NIMA amounted to 120 million euro on October 23 and 1.2 billion euro from October 23 to November 23.
The important thing to consider in the performance of the Nima system in October and November was the gasoline prices hike and subsequent internet shutdown in Iran, which in turn, caused the currency transactions to fall.
“According to some traders, many importers who had to import their commodities after buying foreign currency through the NIMA rate, could not make the necessary purchases,” IRNA said in a report.
the NIMA system was designated as a reference for determining the rates of foreign currency last year after the government adjusted its foreign exchange policies, and exporters and importers have to register their currency transactions in the system.