Baku, Azerbaijan, May 20
By Elnur Baghishov – Trend:
Exporters of petrochemical products in Iran will sell at least 60 percent of the currency earned from exports to the NIMA system, Trend reports referring to the Central Bank's announcement on the return of the currency earned from exports to the Iranian economy during the current Iranian year (started March 21, 2019).
According to the Central Bank of Iran, exporters of petrochemical products will sell up to 10 percent of the foreign currency earned from exports in the form of banknotes to NIMA, while the rest will be spent on imports in exchange for exports.
Furthermore, exporters in other fields must sell at least 50 percent of their export currency to the NIMA system. These exporters can sell 20 percent of the currency in the form of banknotes, while the rest can be used for imports in exchange for exports.
The Central Bank of Iran has also given time until the end of the 4th Iranian month to Iranian exporters who could not receive their export currency in full.
NIMA is a system intended for the sale of a certain percentage of the foreign currency gained from the sale non-essential goods and export. The price of 1 euro in this system is 114,712 rials, and the price of $1 is 101,802 rials.
In the black market, $1 is worth about 141,000-145,000 rials, while 1 euro is worth about 161,000-164,000 rials.