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Central Bank of Iran continues allocation of foreign currency

Business Materials 23 November 2020 11:15 (UTC +04:00)
Central Bank of Iran continues allocation of foreign currency

TEHRAN, Iran, Nov.23

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The Central Bank of Iran continues to implement its policy to offer an official foreign currency rate of 42,000 rials per dollar to importers and would issue the names of these individuals for transparency, said the public relations of the Central Bank of Iran.

All the classes of the society and organizations could find the names of individuals and companies that received official foreign currency rates at the website of the Central Bank of Iran, Trend reports citing IRNA.

The expert organizations are deciding over the assignment of official foreign currency rate based on foreign trade.

The Central Bank of Iran used an online system to prevent any human error and provide complete transparency in foreign currency assignment. Therefore foreign currency assignment would be done based on priorities of ministries and based on quota.

The online system would monitor the functioning of individuals and companies that received foreign currency and would confront any violation. Importers that would not follow their obligations would be blacklisted and no longer received foreign currency from the Central Bank of Iran.

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