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Iran allocates €8.6B for imports

Finance Materials 7 December 2018 16:44 (UTC +04:00)

Tehran, Iran, Dec.7

Trend:

Central Bank of Iran (CBI) has announced the allocation of €8.6 billion from the Integrated System for Hard Currency Transactions for the country's imports.

According to CBI statistics, €353 million has been allocated to the electronics and telecommunication products, while auto manufacturing parts and equipment received €205 million, from the Integrated System for Hard Currency Transactions (NIMA), Trend reports citing IRNA.

Other major groups that received foreign currency for imports during past four years were rubber, plastic, chemicals and cellulose products (€132 million), transport equipment (€677 million), minerals (€435 million), agriculture sector (€253 million), food products (€254 million).

Petrochemical products and natural gas received €179 million, home appliances got €129 million, textile leather and clothes - €113 million.

The NIMA system was established in early August by the CBI to monitor the foreign currency return from exports revenues and eliminating other dealers who manipulated the market, it is currently considered as the main source for the foreign exchange for the exporters and importers.

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